Home Gold Price Analysis: Limited gains below the $1730/oz level for XAU/USD
FXStreet News

Gold Price Analysis: Limited gains below the $1730/oz level for XAU/USD

FX Street
Updated:
  • XAU/USD bounces and finds resistance near the 1730 level. 
  • The picture is mixed with more choppiness ahead below the 1730 level.
 

XAU/USD four-hour chart

 
After bouncing from the 1690/1700 price zone XAU/USD is stalling below the 1730 resistance and the 50 SMA on the four chart. The picture is mixed as it seems the metal is challenging a tough resistance near the 1730 level. However, a break above the level would be necessary for more upside momentum towards the 1740 and 1750 levels. Support should emerge near the 1710 and 1700/1690 price levels. 
 
   

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024