Gold Price Analysis: XAU/USD rolling into Asia nearing the 1560 resistance

Gold recovered from the weekly low as the market remains in a range.
The level to beat for bulls is the 1560 resistance.

Flavio Tosti Independent Analyst

Gold daily chart

XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After rejecting the 1600 mark earlier in the month, the market is now consolidating.

Gold four-hour chart

Gold is nearing the 1560/63 resistance while trading above the main SMAs. A break above the price zone can lead to further advances towards the 1571 and 1580 resistances.

Gold 30-minute chart

The market is trading in an ascending triangle while above the main SMAs. Support is seen at the 1555 and 1550 level.

Additional key levels

XAU/USD

Overview
Today last price	1558.95
Today Daily Change	0.14
Today Daily Change %	0.01
Today daily open	1558.81

Trends
Daily SMA20	1541.85
Daily SMA50	1498.89
Daily SMA100	1497.57
Daily SMA200	1440.09

Levels
Previous Daily High	1568.62
Previous Daily Low	1546.5
Previous Weekly High	1562
Previous Weekly Low	1536.35
Previous Monthly High	1525.1
Previous Monthly Low	1454.05
Daily Fibonacci 38.2%	1554.95
Daily Fibonacci 61.8%	1560.17
Daily Pivot Point S1	1547.33
Daily Pivot Point S2	1535.86
Daily Pivot Point S3	1525.21
Daily Pivot Point R1	1569.45
Daily Pivot Point R2	1580.1
Daily Pivot Point R3	1591.57

Author

Flavio Tosti

Independent Analyst

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