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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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