XAUUSD Analysis: Continues to climb

Dukascopy Bank Team Dukascopy Bank SA

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

1. R3 1305.07
2. R2 1296.43
3. R1 1291.27
PP 1282.63
1. S1 1277.47
2. S2 1268.83
3. S3 1263.67

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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