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Gold Price Analysis: XAU/USD nearing $1740/oz level

  • XAU/USD consolidated last week’s gains.  
  • The level to beat for buyers is the 1740 resistance.

XAU/USD four-hour chart

XAU/USD consolidates the recent gains while trading above $1700 per troy ounce and the main SMAs on the four-hour chart. The market is nearing the 1740 resistance. A break above the mentioned level can lead to more up towards the 1780/1800 price zone. Occasional pullbacks should find support near the 1690/1700 price zone and the 1660 level. 


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