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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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