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Gold Price Analysis: XAU/USD rolling into Asia nearing the 1560 resistance

  • Gold recovered from the weekly low as the market remains in a range.
  • The level to beat for bulls is the 1560 resistance.
 

Gold daily chart

 
XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After rejecting the 1600 mark earlier in the month, the market is now consolidating.
 

Gold four-hour chart

 
Gold is nearing the 1560/63 resistance while trading above the main SMAs. A break above the price zone can lead to further advances towards the 1571 and 1580 resistances. 
  

Gold 30-minute chart

 
The market is trading in an ascending triangle while above the main SMAs. Support is seen at the 1555 and 1550 level. 
 
 

Additional key levels

XAU/USD

Overview
Today last price 1558.95
Today Daily Change 0.14
Today Daily Change % 0.01
Today daily open 1558.81
 
Trends
Daily SMA20 1541.85
Daily SMA50 1498.89
Daily SMA100 1497.57
Daily SMA200 1440.09
 
Levels
Previous Daily High 1568.62
Previous Daily Low 1546.5
Previous Weekly High 1562
Previous Weekly Low 1536.35
Previous Monthly High 1525.1
Previous Monthly Low 1454.05
Daily Fibonacci 38.2% 1554.95
Daily Fibonacci 61.8% 1560.17
Daily Pivot Point S1 1547.33
Daily Pivot Point S2 1535.86
Daily Pivot Point S3 1525.21
Daily Pivot Point R1 1569.45
Daily Pivot Point R2 1580.1
Daily Pivot Point R3 1591.57

 

 

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