After recording its largest weekly decline since 1983 last week, XAU/USD has been consolidting this week. More sideways could be expect in the precious metal market. XAU/USD daily chart Last week, XAU/USD recorded its worst weekly decline since 1983, erasing the early 2020 bull-run while now challenging the 200 DMA (daily simple moving average) on the daily chart. XAU/USD keeps consolidating losses below $1500 per troy ounce. XAU/USD four-hour chart XAU/USD is consolidating the selloff below 1500 while trading well below the main SMAs suggesting an overall bearish bias in the medium term. Volatility is decreasing while the market might be declining in the short term towards the 1488, 1477 and 1460 levels which bulls might try to defend. On the flip side, bullish attempts should lose steam near 1505, 1520 and 1540 price levels. Resistance: 1505, 1520, 1540 Support: 1488, 1477, 1460 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 EUR/GBP drops heavily to the 0.9100 region FX Street 2 years After recording its largest weekly decline since 1983 last week, XAU/USD has been consolidting this week. More sideways could be expect in the precious metal market. XAU/USD daily chart Last week, XAU/USD recorded its worst weekly decline since 1983, erasing the early 2020 bull-run while now challenging the 200 DMA (daily simple moving average) on the daily chart. XAU/USD keeps consolidating losses below $1500 per troy ounce. XAU/USD four-hour chart XAU/USD is consolidating the selloff below 1500 while trading well below the main SMAs suggesting an overall bearish bias in the medium term. Volatility is… 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.
