XAU/USD is consolidating after recording its largest weekly decline since 1983 last week. XAU/USD appears to be consolidative in the medium term. XAU/USD daily chart Last week, gold suffered its worst weekly decline since 1983, erasing the 2020 gains while challenging the 200 SMA on the daily chart. XAU/USD is consolidating the losses near $1500 per troy ounce. XAU/USD four-hour chart XAU/USD is consolidating the losses near $1500 per troy ounce while trading well below the main SMAs suggesting an overall bearish bias in the medium term. A break below the 1500 level can send gold down towards the 1480 and 1440 price levels while bulls will try to defend the 1500 mark. Resistance is seen near the 1530 and 1548/57 price levels. Resistance: 1530, 1548, 1557 Support: 1500, 1480, 1440 Additional key levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoE’s Bailey: Measures such as helicopter money are for government to decide FX Street 2 years XAU/USD is consolidating after recording its largest weekly decline since 1983 last week. XAU/USD appears to be consolidative in the medium term. XAU/USD daily chart Last week, gold suffered its worst weekly decline since 1983, erasing the 2020 gains while challenging the 200 SMA on the daily chart. XAU/USD is consolidating the losses near $1500 per troy ounce. XAU/USD four-hour chart XAU/USD is consolidating the losses near $1500 per troy ounce while trading well below the main SMAs suggesting an overall bearish bias in the medium term. A break below the 1500 level can send… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
