XAU/USD recorded its largest weekly decline since 1983 last week. Further downside could be on the cards. XAU/USD weekly chart Gold suffered its worst weekly decline since 1983 last week, erasing the 2020 gains and challenging the 50 SMA on the weekly chart. XAU/USD daily chart The market remains on the back foot with extreme volatility while testing the 1500 mark and the 200 SMA on the daily chart. Gold stays vulnerable but bears need to overcome the 1480 support on a daily basis to reach 1440 on the way down. Resistance can be expected near 1530 and in the 1548/1557 price zone. 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 Bitcoin Cash Price Analysis: BCH/USD at risk of another wave of downside pressure FX Street 2 years XAU/USD recorded its largest weekly decline since 1983 last week. Further downside could be on the cards. XAU/USD weekly chart Gold suffered its worst weekly decline since 1983 last week, erasing the 2020 gains and challenging the 50 SMA on the weekly chart. XAU/USD daily chart The market remains on the back foot with extreme volatility while testing the 1500 mark and the 200 SMA on the daily chart. Gold stays vulnerable but bears need to overcome the 1480 support on a daily basis to reach 1440 on the way down. Resistance can be expected near… 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.
