XAU/USD needs to defend $1,747 to keep upside potential intact – Crypto News – Crypto News
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XAUUSD fails again near $1730, erases daily gains XAUUSD fails again near $1730, erases daily gains

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XAU/USD needs to defend $1,747 to keep upside potential intact – Crypto News

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3 years ago

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Gold price starts the week in the red but holds in a familiar trading range. Defending 23.6% Fibo is critical for XAU/USD’s further upsideFXStreet’s Dhwani Mehta reports.

Next upside resistance is at Friday’s high of $1,761.

“The 14-day Relative Strength Index (RSI) remains in the bullish territory, while the 21 and 100-Daily Moving Average (DMA) bullish crossover keeps the upside potential intact.”

“The next upside resistance is at Friday’s high of $1,761, followed by the $1,770 round figure.”

“On the flip side, a breach of $1,747, the 23.6% Fibonacci Retracement (Fibo) level of the latest rally from the November 3 bottom at $1,617, will open floors for a test of the $1,720. At that level, the ascending 21DMA and 38.2% Fibo level converge. Further down, the horizontal 50DMA at $1,712 will come to the rescue of Gold buyers.”

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