Gold Price Analysis: XAU/USD trades in three-week’s highs around $1650/oz

XAU/USD starts the week by beaking to three-week’s highs.
The level to beat for bulls is the 1660 resistance.

Flavio Tosti Independent Analyst

XAU/USD daily chart

Gold is trading in three-week’s highs while above its main DMA (daily simple moving average) suggesting that bulls remain in control of the market.

XAU/USD four-hour chart

Gold is trading above the main SMAs while nearing the 1660 resistance as bulls would need a break above the above-mentioned level to extend the current bullish move which would introduce potential scope for an extension to the 1690/1700 resistance zone on the way up. On the flip side, support can be seen near the 1620, 1600 and 1570 levels.

Additional key levels

XAU/USD

Overview
Today last price	1654.01
Today Daily Change	35.79
Today Daily Change %	2.21
Today daily open	1618.22

Trends
Daily SMA20	1582.5
Daily SMA50	1592.91
Daily SMA100	1548.81
Daily SMA200	1514.05

Levels
Previous Daily High	1626.17
Previous Daily Low	1606.62
Previous Weekly High	1636.13
Previous Weekly Low	1568.46
Previous Monthly High	1703.27
Previous Monthly Low	1451.3
Daily Fibonacci 38.2%	1618.7
Daily Fibonacci 61.8%	1614.09
Daily Pivot Point S1	1607.84
Daily Pivot Point S2	1597.45
Daily Pivot Point S3	1588.29
Daily Pivot Point R1	1627.39
Daily Pivot Point R2	1636.55
Daily Pivot Point R3	1646.94

Author

Flavio Tosti

Independent Analyst

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