- The XAU / USD is struggling to make a decisive move in either direction.
- $ 1,720 lines up as key support in the near term.
- Additional gains are likely if gold manages to break above the $ 1,735 level.
The pair XAU / USD It is moving up and down in a tight range below $ 1,730 on Monday, as trading action continues to be choppy on Easter Monday. At time of writing, gold was down 0.2% on the day at $ 1,736.
Gold technical outlook
On the four-hour chart, the 100-period SMA is slightly below price, limiting the decline for the time being. Meanwhile, the Relative Strength Index (RSI) indicator on the same chart is moving sideways around 60, suggesting that gold remains neutral with a bullish bias in the near term.
Initial resistance is at $ 1,730 before $ 1,735 (200-period SMA). If a four hour candle manages to close above that level, gold could rally towards the next significant hurdle at $ 1,745 (static level).
On the downside, the first support is at $ 1,725 ​​(100-period SMA) before $ 1,720 (static, 50-period SMA) and $ 1,708 (20-period SMA).
Additional levels 
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