XAUUSD is forming a double bottom from which a rally towards strong resistance is forming. CPI showed worse than expected data, surprisingly. Manipulation? Price has not yet moved out of the corrective channel. Ahead of PPI
Resistance levels: 2645, 2651, 2660
Support levels: 2637, 2623, 2600
Technically, XAUUSD is in a correction phase. From the bottom of the channel a strong movement of 2% has been formed and there is not much potential to break through the resistance. The most probable outcome is a decline after a false breakdown or consolidation below 2640. BUT! It is not excluded that a surprise in the news can turn the picture in the opposite direction