Gold Price Analysis: XAU/USD nearing $1740/oz level

XAU/USD consolidated last week’s gains.
The level to beat for buyers is the 1740 resistance.

Flavio Tosti Independent Analyst

XAU/USD four-hour chart

XAU/USD consolidates the recent gains while trading above $1700 per troy ounce and the main SMAs on the four-hour chart. The market is nearing the 1740 resistance. A break above the mentioned level can lead to more up towards the 1780/1800 price zone. Occasional pullbacks should find support near the 1690/1700 price zone and the 1660 level.

Additional key levels

XAU/USD

Overview
Today last price	1734.26
Today Daily Change	6.55
Today Daily Change %	0.38
Today daily open	1727.71

Trends
Daily SMA20	1715.38
Daily SMA50	1660.28
Daily SMA100	1624.37
Daily SMA200	1558.64

Levels
Previous Daily High	1749.14
Previous Daily Low	1717.34
Previous Weekly High	1751.8
Previous Weekly Low	1690.05
Previous Monthly High	1747.82
Previous Monthly Low	1568.46
Daily Fibonacci 38.2%	1729.49
Daily Fibonacci 61.8%	1736.99
Daily Pivot Point S1	1713.65
Daily Pivot Point S2	1699.6
Daily Pivot Point S3	1681.85
Daily Pivot Point R1	1745.45
Daily Pivot Point R2	1763.2
Daily Pivot Point R3	1777.25

Author

Flavio Tosti

Independent Analyst

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