Gold Price Analysis: XAU/USD trading in 10-day highs near $1580.00/oz



Gold daily chart

XAU/USD is trading in a bull trend above the main daily simple moving averages (SMAs). Gold is rising in a bull channel while the market is being supported above the 1560.00 figure.

Gold four-hour chart

XAU/USD broke above the1576.75 support while trading above the main SMAs on the four-hour chart suggesting a bullish momentum in the medium term. As bulls are back in control the market has room to appreciate towards the 1590.05 and 1595.00 price levels. Conversely, corrections down could find support near the 1576.88, 1571.94 and 1565.36 levels, according to the Technical Confluences Indicator.

Resistance: 1586.75, 1590.05, 1595.00
Support: 1576.88, 1571.94, 1565.36

Additional key levels


Today last price1581.08
Today Daily Change4.77
Today Daily Change %0.30
Today daily open1576.31


Daily SMA201568.68
Daily SMA501534.24
Daily SMA1001508.35
Daily SMA2001464.9


Previous Daily High1578.34
Previous Daily Low1565.54
Previous Weekly High1594.01
Previous Weekly Low1547.56
Previous Monthly High1611.53
Previous Monthly Low1517.1
Daily Fibonacci 38.2%1573.45
Daily Fibonacci 61.8%1570.43
Daily Pivot Point S11568.45
Daily Pivot Point S21560.6
Daily Pivot Point S31555.65
Daily Pivot Point R11581.25
Daily Pivot Point R21586.2
Daily Pivot Point R31594.05