XAUUSD (GOLD) Intraday Outlook

XAUUSD is currently consolidating in the tight range with a trendline resistance keeping it in place. However, with safe havens in high demand due to fear of coronavirus and it had recently bounced off the strong key support level of 1721, we can expect more upside movements. If the bulls manages to break through the strong R1, a bigger uptrend is possible with targets on R2 and even higher provided there are no major fundamental sentiments changes.

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