Gold Asia Price Forecast: XAU/USD consolidates gains above $1700/oz.

XAU/USD bulls remain in control, trading near $1723/oz ahead of Asia.
The level to beat for buyers is the 1740 resistance.

XAU/USD daily chart

After breaking to fresh 2020 highs, this Wednesday XAU/USD had a modest consolidation day while trading above the main DMAs (daily simple moving averages) suggesting that bulls remain in full control of this market.

XAU/USD four-hour chart

XAU/USD is trading above the main SMAs, making higher highs and lows while holding above the 1690/1700 support zone as buyers are eyeing the 1740 and 1780/1800 levels to the upside. On the flip side, support can be seen near the 1690/1700 price zone and the 1660 level on any retracement down.

Additional key levels

Apr 15, 2020

Forex Today: Risk aversion took over

Here is what you need to know on Thursday, April 16th: Risk aversion run throughout the first half of the day, fueling dollar’s demand. The greenback

อ่านเพิ่มเติม Previous

Apr 15, 2020

Japanese government to cut economic assessment for 2nd straight month in April – Nikkei

The Japanese government is said to cut economic assessment for 2nd straight month in April according to the Nikkei. Key notes To offer bleakest econom

อ่านเพิ่มเติม Next