- Gold remains relatively quiet after closing the week before higher.
- The short-term hurdles for XAU / USD line up at $ 1,740 and $ 1,745.
- The key support for gold is at $ 1,700.
Last week, the pair XAU / USD broke a three-week losing streak and closed in positive territory at $ 1,726. On Monday, the pair is struggling to establish its next short-term direction and was last seen posting small daily gains at $ 1,730.60.
Gold technical outlook
On the four-hour chart, the price appears to be struggling to break above $ 1,730, where the 38.2% Fibonacci from the February 23 – March 8 drop is located. Should a four-hour candle manage to close above that level, $ 1,740 (100-period SMA) could be seen as the next target before $ 1,745 (Fibonacci 50% retracement).
Meanwhile, the Relative Strength Index (RSI) indicator on the same chart is holding above 50, suggesting that XAU / USD has more room to the upside before technically overbought.
On the other hand, the 20-period SMA acts as a dynamic support around $ 1,720 before $ 1,710 (50-period SMA) and $ 1,700 (psychological level).
Additional levels
XAU / USD
| Panorama | |
|---|---|
| Today’s Last Price | 1730.3 |
| Today’s Daily Change | 6.74 |
| Today’s Daily Change% | 0.39 |
| Today’s Daily Opening | 1723.56 |
| Trends | |
|---|---|
| SMA of 20 Daily | 1749.68 |
| SMA of 50 Daily | 1811.64 |
| SMA of 100 Daily | 1838.89 |
| 200 SMA Daily | 1860.14 |
| Levels | |
|---|---|
| Daily Previous Maximum | 1728.04 |
| Daily Previous Minimum | 1699.3 |
| Weekly Preview Maximum | 1739.93 |
| Weekly Prior Minimum | 1676.87 |
| Monthly Previous Maximum | 1871.9 |
| Minimum Previous Monthly | 1717.24 |
| Daily Fibonacci 38.2% | 1710.28 |
| Daily Fibonacci 61.8% | 1717.06 |
| Daily Pivot Point S1 | 1705.89 |
| Daily Pivot Point S2 | 1688.23 |
| Daily Pivot Point S3 | 1677.15 |
| Daily Pivot Point R1 | 1734.63 |
| Daily Pivot Point R2 | 1745.71 |
| Daily Pivot Point R3 | 1763.37 |
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
