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

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

Published date: 13 May. 2020 | 19:37

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

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

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