Gold Price remains sidelined around one-week high after crossing the short-term crucial hurdles the previous day. That said, the metal approaches another key resistance, around $1,848, as bulls cheer the previous breakout of the 200-DMA and monthly resistance line, not to forget Fibonacci 38.2% one-week.
Gold Price: Key levels to watch
The Technical Confluences Detector shows that the Gold Price stays firmer after crossing the Fibonacci 38.2% one-week, as well as SMA100 on 15-minute, close to $1,834.
Also justifying the bullish bias is the XAU/USD’s sustained trading beyond the 200-DMA and Fibonacci 38.2% one-week, respectively around $1,840 and $1,838.
It’s worth noting that Fibonacci 23.6% one-week and SMA100 on hourly chart portrays another important support around $1,820.
That said, the Gold Price aims $1,848 hurdle comprising upper Bollinger on 4H and Pivot Point 1Month S1.