EUR/USD: Gold Prices Continue to Fade at Resistance at 1672
Gold has not been able, thus far, to break its resistance at 1672. Despite the upside potential at 1730 (implied by the bullish breakout from the symmetrical triangle), we favour a short-term pullback towards the support at 1635.
The key support at 1523 has held. Still, the long-term succession of lower highs since the 6 September high (i.e. 1921) favours a cautious view.