Gold New York Price Forecast: XAU/USD bulls looking for a break above 1577 resistance


  • XAU/USD appears supported above the 1560.00 mark. 
  • The level to beat for buyers is the 1577.00 resistance.
 

Gold daily chart

 
Gold is trading in an uptrend above its main daily simple moving averages (SMAs). XAU/USD is evolving in an upward channel while the market is being supported above the 1560.00 figure.
 

Gold four-hour chart

 
XAU/USD is challenging the 1577.00 resistance while trading above the main SMAs on the four-hour chart suggesting a bullish momentum in the medium term. A break above the above-mentioned level can lead to extra gains towards the 1586.74, 1590.00 and 1594.00 price levels. On the flip side, corrections down could find support near the 1572.00, 1567.50, 1562.00 and 1557.27 levels, according to the Technical Confluences Indicator.   
 
 
Resistance: 1577.00, 1586.74, 1590.00, 1594.00
Support: 1572.00, 1567.50, 1562.00, 1557.27
 
 

Additional key levels

XAU/USD

Overview
Today last price 1574.26
Today Daily Change 7.00
Today Daily Change % 0.45
Today daily open 1567.26
 
Trends
Daily SMA20 1567.56
Daily SMA50 1532.23
Daily SMA100 1507.63
Daily SMA200 1463.44
 
Levels
Previous Daily High 1570.52
Previous Daily Low 1561.99
Previous Weekly High 1594.01
Previous Weekly Low 1547.56
Previous Monthly High 1611.53
Previous Monthly Low 1517.1
Daily Fibonacci 38.2% 1565.25
Daily Fibonacci 61.8% 1567.26
Daily Pivot Point S1 1562.66
Daily Pivot Point S2 1558.06
Daily Pivot Point S3 1554.13
Daily Pivot Point R1 1571.19
Daily Pivot Point R2 1575.12
Daily Pivot Point R3 1579.72

 

 

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