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Gold Price Analysis: XAU/USD easing from 2020 highs, trades near $1640.00/oz

  • XAU/USD is consolidating gains below the 1660.00 level.
  • Support is seen in the 1640.40/1622.00 band.  
 

Gold daily chart

 
XAU/USD is trading in a bull trend above its main daily simple moving averages (SMAs) as the market is pulling back down from 2020 highs established two days ago. 
 

Gold four-hour chart

 
Gold is consolidating the recent gains while trading above the main SMAs on the four-hour chart. Bears want a daily close below the 1640.40 level to extend to bear move towards the 1622.00 and 1600.00 price levels. On the other hand, bulls would gain momentum on a break above the 1660.00 level en route towards the 1692.00 and 1700.00 resistances.
 
 
Resistance: 1660.00, 1692.00, 1700.00
Support: 1640.40, 1622.00, 1600.00
  
  

Additional key levels

XAU/USD

Overview
Today last price 1639.32
Today Daily Change 9.51
Today Daily Change % 0.58
Today daily open 1629.81
 
Trends
Daily SMA20 1589.2
Daily SMA50 1557.67
Daily SMA100 1518.09
Daily SMA200 1478.06
 
Levels
Previous Daily High 1663.94
Previous Daily Low 1625.12
Previous Weekly High 1649.32
Previous Weekly Low 1578.88
Previous Monthly High 1611.53
Previous Monthly Low 1517.1
Daily Fibonacci 38.2% 1639.95
Daily Fibonacci 61.8% 1649.11
Daily Pivot Point S1 1615.31
Daily Pivot Point S2 1600.8
Daily Pivot Point S3 1576.49
Daily Pivot Point R1 1654.13
Daily Pivot Point R2 1678.44
Daily Pivot Point R3 1692.95

 

 

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