Gold Price Analysis: XAU/USD is ending the week nearing 2020 highs

XAU/USD ends the trading week nearing the 2020 high.
The level to beat for bulls is the 1690/1700 resistance zone.

Flavio Tosti Independent Analyst

XAU/USD daily chart

Gold is nearing the 2020 highs while above the main DMA (daily simple moving average) suggesting that bulls remain in full control of the market.

XAU/USD four-hour chart

Gold is trading above its main SMAs while challenging the 1690/1700 resistance zone as bulls would need a break above the above-mentioned level to extend the up move which would introduce scope to the 1740 resistance on the way up. On the flip side, support can be seen near the 1660, 1640 and 1620 levels.

Additional key levels

XAU/USD

Overview
Today last price	1684.34
Today Daily Change	0.00
Today Daily Change %	0.00
Today daily open	1684.34

Trends
Daily SMA20	1587.32
Daily SMA50	1599.54
Daily SMA100	1556.37
Daily SMA200	1519.05

Levels
Previous Daily High	1690.42
Previous Daily Low	1643.82
Previous Weekly High	1636.13
Previous Weekly Low	1568.46
Previous Monthly High	1703.27
Previous Monthly Low	1451.3
Daily Fibonacci 38.2%	1672.62
Daily Fibonacci 61.8%	1661.62
Daily Pivot Point S1	1655.3
Daily Pivot Point S2	1626.26
Daily Pivot Point S3	1608.7
Daily Pivot Point R1	1701.9
Daily Pivot Point R2	1719.46
Daily Pivot Point R3	1748.5

Author

Flavio Tosti

Independent Analyst

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