Gold Asia Price Forecast: XAU/USD holds near $1690/oz, bullish


  • XAU/USD remains sidelined near the 1690/1700 support zone. 
  • The level to beat for buyers is the 1740 resistance.
 
 
 

XAU/USD four-hour chart

 
XAU/USD is consolidating the bull-run from mid-March as gold trades in the 1690/1700 support zone but below the 50/100SMAs on the four-hour chart while above the 200 SMA. The bullish bias on XAU/USD remains intact with buyers eyeing for a break above the 1740 level on a daily closing basis which may open the gates toward the 1740 and 1780/1800 resistance zone. Conversely, support can emerge near 1660 price level in the medium-term.
  

Additional key levels

XAU/USD

Overview
Today last price 1690.42
Today Daily Change -14.60
Today Daily Change % -0.86
Today daily open 1705.02
 
Trends
Daily SMA20 1701.04
Daily SMA50 1640.39
Daily SMA100 1597.49
Daily SMA200 1543.87
 
Levels
Previous Daily High 1712.27
Previous Daily Low 1690.12
Previous Weekly High 1728.71
Previous Weekly Low 1670.72
Previous Monthly High 1747.82
Previous Monthly Low 1568.46
Daily Fibonacci 38.2% 1703.81
Daily Fibonacci 61.8% 1698.58
Daily Pivot Point S1 1692.67
Daily Pivot Point S2 1680.32
Daily Pivot Point S3 1670.52
Daily Pivot Point R1 1714.82
Daily Pivot Point R2 1724.62
Daily Pivot Point R3 1736.97

 

 

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