Gold Technical Analysis: XAU/USD enters Asia clinging to three-weeks highs near 1480 level

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  • Gold is trading at its highest in the last three weeks.
  • The level to beat for buyers is the 1480 resistance.
 

Gold daily chart

 
Gold bounced sharply from the November lows while breaking above the 1465 resistance level. The market is trading below the 50 and 100-day simple moving averages (SMAs). 
  

Gold four-hour chart 

 
The metal is testing the 1480 resistance and the 200 SMA. A break above this level can send gold up towards 1493 and 1520 if the buyers gather enough momentum. Support is seen at the 1465 level.
 

Additional key levels

 

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