Long if the price is still above area 1775-1780
XAU/USD clings to modest recovery gains, remains below $1,800. Yields failed to cheer hawkish Fed Minutes, inflation data on Wednesday. Strong technical support around $1,780 - $1,785 also played its role to trigger the corrective pullback.
+ The recovery moves remain elusive until crossing the 200-SMA and the aforementioned support-turned-resistance area, respectively near $1,805 and $1,810-13. Following that, resistance near $1,845-1850 will be in focus.
+ Meanwhile, a clear downside past $1,780 will aim for the multiple lows near $1,759 before jostling with multiple supports near $1,748-47
+ The recovery moves remain elusive until crossing the 200-SMA and the aforementioned support-turned-resistance area, respectively near $1,805 and $1,810-13. Following that, resistance near $1,845-1850 will be in focus.
+ Meanwhile, a clear downside past $1,780 will aim for the multiple lows near $1,759 before jostling with multiple supports near $1,748-47