13 May 2020
Gold Price Analysis: XAU/USD pressuring May highs, trades above $1700/oz
- XAU/USD stays in range above the 1690/1700 support zone.
- The level to beat for buyers the 1740 resistance.
XAU/USD four-hour chart
XAU/USD is sidelined following the bullish recovery from mid-March. Gold holds above the 1690/1700 support zone and the main SMAs on the four-hour chart suggesting that the bullish bias stays intact with buyers eyeing a sustained break above the 1740 level on a daily closing basis. Potential resistances to the upside can be seen near the 1780/1800 price zone.
Additional key levels