XAU/USD consolidates gains, trades above $1700/oz mark

  • XAU/USD is consolidating gains in the first half of the trading week. 
  • The level to beat for bulls is the 1740 resistance.

 

XAU/USD four-hour chart

 

XAU/USD consolidates gains above $1700 per troy ounce and the main SMAs on the four-hour chart. Gold buyers would need a break above the 1740 resistance to extend the rally towards the 1780/1800 price zone. The retracement down may find support near the 1690/1700 price zone and the 1660 level. 

 

     

Additional key levels

 

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