Yesterday, after initially rising to 2277, the price began to correct. Following an initial drop to support, bulls regained control during the US session, closing the day with yet another all-time high for OANDA:XAUUSD.
During the Asian session last night, once again, the initial drop was met with strong bids, leading to a quick price recovery. These occurrences signal significant buying power and suggest a high likelihood of an upward continuation.
From a technical standpoint, as long as the price remains above yesterday's low of 2250, bulls need not worry, and the strategy of buying dips should persist. Interim support is situated at 2277, followed by the important level of 2267.
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After a short lived intraday dip exactly in the important level mentioned in the morning analysis, XauUsd is approaching my daily target