XAUUSD Analysis: Continues to climb

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
  1. PP 1282.63
    1. S1 1277.47
    2. S2 1268.83
    3. S3 1263.67


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