Gold has been extending its gains, benefiting from the persistent drop in US Treasury yields. Returns on ten-year US debt has remained below 1.60%, making the yieldless precious metal more attractive. Moreover, it seems that the XAU/USD bulls are lifting their heads, with fresh interest. How is gold positioned on the technical charts? The Technical Confluences Detector is showing that XAU/USD is struggling at the $1,779 level, which is the convergence of the Pivot Point one-week Resistance 2, the Bollinger Band 1h-Upper and the previous 4h-high. The upside target is $1,798, which is a juncture of lines including the PP one-month R2 and the PP one-week R3. Looking down, some support awaits at $1,770, which is where the previous daily high meets the Simple Moving Average 10-1h. A significant cushion awaits at $1,761, which is the confluence of the PP one-week R1, the Fibonacci 23.6% one-day and the previous monthly high. XAU/USD resistance and support levels Confluence Detector The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies. Learn more about Technical Confluence 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 GBP/USD’s recovery hinges on top-tier UK data, further Fed speculation Yohay Elam 2 years Gold has been extending its gains, benefiting from the persistent drop in US Treasury yields. Returns on ten-year US debt has remained below 1.60%, making the yieldless precious metal more attractive. Moreover, it seems that the XAU/USD bulls are lifting their heads, with fresh interest. How is gold positioned on the technical charts? The Technical Confluences Detector is showing that XAU/USD is struggling at the $1,779 level, which is the convergence of the Pivot Point one-week Resistance 2, the Bollinger Band 1h-Upper and the previous 4h-high. The upside target is $1,798, which is a juncture of lines including… 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.
