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Gold Price Analysis: XAU/USD is ending the week nearing 2020 highs

  • XAU/USD ends the trading week nearing the 2020 high. 
  • The level to beat for bulls is the 1690/1700 resistance zone.
 

XAU/USD daily chart

 
Gold is nearing the 2020 highs while above the main DMA (daily simple moving average) suggesting that bulls remain in full control of the market. 
 

XAU/USD four-hour chart

 
Gold is trading above its main SMAs while challenging the 1690/1700 resistance zone as bulls would need a break above the above-mentioned level to extend the up move which would introduce scope to the 1740 resistance on the way up. On the flip side, support can be seen near the 1660, 1640 and 1620 levels. 
 

Additional key levels

XAU/USD

Overview
Today last price 1684.34
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1684.34
 
Trends
Daily SMA20 1587.32
Daily SMA50 1599.54
Daily SMA100 1556.37
Daily SMA200 1519.05
 
Levels
Previous Daily High 1690.42
Previous Daily Low 1643.82
Previous Weekly High 1636.13
Previous Weekly Low 1568.46
Previous Monthly High 1703.27
Previous Monthly Low 1451.3
Daily Fibonacci 38.2% 1672.62
Daily Fibonacci 61.8% 1661.62
Daily Pivot Point S1 1655.3
Daily Pivot Point S2 1626.26
Daily Pivot Point S3 1608.7
Daily Pivot Point R1 1701.9
Daily Pivot Point R2 1719.46
Daily Pivot Point R3 1748.5

 

 

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