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Gold technical analysis leading into the US session

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(Kitco News) - Gold has been struggling with the backdrop of USD strength in the EU session and it seems pretty likely that the market could move to test the consolidation low at $1848 per ounce.

On the last move up the price did not manage to hit the previous value are at $1905 where most contracts had been previously traded. If we do move into a lower distribution then $1807 was a sticky point in the past. 

There are a few support areas to look out for if we break lower at $1830 and $1788.8 respectively. If the consolidation low does hold then $1876 is an area to look watch as it seems a price level that trades are comfortable with due to the number of contracts traded there too. If by some miracle the bulls manage to take charge of the market again the main resistance is $1893.4 in recently it has been a very stubborn price point. 

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