Gold Price Analysis: XAU/USD pressuring May highs, trades above $1700/oz

XAU/USD stays in range above the 1690/1700 support zone.
The level to beat for buyers the 1740 resistance.

Flavio Tosti Independent Analyst

XAU/USD four-hour chart

XAU/USD is sidelined following the bullish recovery from mid-March. Gold holds above the 1690/1700 support zone and the main SMAs on the four-hour chart suggesting that the bullish bias stays intact with buyers eyeing a sustained break above the 1740 level on a daily closing basis. Potential resistances to the upside can be seen near the 1780/1800 price zone.

Additional key levels

XAU/USD

Overview
Today last price	1712.18
Today Daily Change	9.70
Today Daily Change %	0.57
Today daily open	1702.48

Trends
Daily SMA20	1705.31
Daily SMA50	1649.13
Daily SMA100	1608.59
Daily SMA200	1550.42

Levels
Previous Daily High	1711.09
Previous Daily Low	1693.76
Previous Weekly High	1723.7
Previous Weekly Low	1682.3
Previous Monthly High	1747.82
Previous Monthly Low	1568.46
Daily Fibonacci 38.2%	1704.47
Daily Fibonacci 61.8%	1700.38
Daily Pivot Point S1	1693.8
Daily Pivot Point S2	1685.11
Daily Pivot Point S3	1676.47
Daily Pivot Point R1	1711.13
Daily Pivot Point R2	1719.77
Daily Pivot Point R3	1728.46

Author

Flavio Tosti

Independent Analyst

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