The yellow metal's price has broken past the 1,280 mark, which managed to hold off the metal for a couple of hours.
On Friday morning, an ascending pattern was noticed. It can be mapped by connecting the high levels of early August 8 trading hours and the early high level of August 10. In that way the resistance line can be observed. However, the possible support line of a channel might be pinpointed by setting the parallel line at the August 8 low level.
In the meantime., it can be observed on various charts that there are no notable resistance levels until the 1,290 mark.
Interested in XAU/USD technicals? Check out the key levels
- R3 1305.07
- R2 1296.43
- R1 1291.27
- PP 1282.63
- S1 1277.47
- S2 1268.83
- S3 1263.67
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