21 May 2020
Gold Asia Price Forecast: XAU/USD consolidates gains above $1700/oz
- XAU/USD is retracing down after last week’s gains.
- The level to beat for bulls the 1740 resistance.
XAU/USD four-hour chart
XAU/USD is consolidating the recent gains while trading above $1700 per troy ounce and the 100/200 SMAs on the four-hour chart. XAU/USD is likely to stay supported with bulls trying to regain the 1740 level initially followed by the 1780/1800 price zone. Occasional retracements should find support near the 1690/1700 price zone and the 1660 level.
Additional key levels