XAU/USD is struggling to find direction at the start of the week. Additional gains are likely if XAU/USD manages to break above $1,760. Buyers continue to defend key support at $1,730. The XAU/USD pair closed the previous week in the positive territory but seems to have gone into a consolidation phase on Monday. As of writing, gold was virtually unchanged on a daily basis at $1,743. Gold technical outlook The 50-day SMA continues to act as dynamic resistance at $1,760. During the Asian trading hours, XAU/USD turned south after failing to break above that level and retreated to the $1,730 area, where the Fibonacci 38.2% retracement of Mar. 31-Apr. 8 uptrend is located. Additionally, the 100-period and the 200-period SMAs on the four-hour chart, as well as the 20-day SMA, Â are reinforcing that support. As long as buyers continue to defend this level, gold could try to retest the 50-day SMA. Â On the upside, a daily close above $1,760 could open the door for additional gains toward $1,785 (Fibonacci 38.2% retracement of the January-March downtrend). On the other hand, $1,720 (Fibonacci 50% retracement of Mar. 31-Apr. 8 uptrend) could be seen as the next support below $1,730. In the meantime, the Relative Strength Index (RSI) indicator on the four-hour chart is pushing higher toward 60, suggesting that the bullish momentum is gathering strength. Â 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 Germany’s Merkel: Current COVID-19 infection rate is much too high FX Street 1 year XAU/USD is struggling to find direction at the start of the week. Additional gains are likely if XAU/USD manages to break above $1,760. Buyers continue to defend key support at $1,730. The XAU/USD pair closed the previous week in the positive territory but seems to have gone into a consolidation phase on Monday. As of writing, gold was virtually unchanged on a daily basis at $1,743. Gold technical outlook The 50-day SMA continues to act as dynamic resistance at $1,760. During the Asian trading hours, XAU/USD turned south after failing to break above that level and retreated to the $1,730… 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.