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    XAU/USD: Fibonacci levels analysis on 07.07.2015

    New upward movement is possible.

    On the 4-hour chart the pair XAU/USD tested the correction level and 23.6% arc for a short-term trend several times. Currently, the price is heading towards a strong support level 1164.10. Should the level be broken through, the price may continue going down to 1148.90 (0.0% correction level for a medium-term trend). 

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