XAUUSD Holds Key Support, Eyes $2,560 Resistance

From dailypriceaction.com

XAUUSD is holding above key support near $2,505, with gold bulls aiming for a potential rally toward $2,560. Watch today’s video for an in-depth analysis of the critical levels to watch and the impact of the weakening US dollar on gold’s next move. XAUUSD is holding above key support to start the week but is beginning to weigh more heavily on its August channel. I discussed this 4-hour channel support over the weekend, which comes in near $2,505. This is a critical level for bulls this week, but the must-hold level is closer to $2,470. If XAUUSD can hold within this 4-hour channel, gold has a chance at retesting ... (full story)