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  • XAU/USD starts the new week sidelined just above the 1700.00 mark. 
  • The level to beat for bulls is the 1740 resistance.

XAU/USD four-hour chart

XAU/USD consolidates the advance originating from mid-March as the metal trades just above the 1700.00 mark but below the 50/100SMAs on the four-hour chart and above the 200 SMA. XAU/USD bullish bias remains intact with bulls looking for a break above the 1740.00 level on a daily closing basis which could open the doors toward the 1740 and 1780/1800 resistance zone. On the flip side, support is expected to emerge near 1700/1690 price level in the medium-term while further down lies the 1660 level. 

Additional key levels