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XAUUSD Rises to a Four-Week High

Posted On 07 Apr 2020
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xauusd

Gold prices are holding on to the bullish gains with prices rising sharply to a four-week high.

This comes after the breakout above the previous pivot high of 1630. To the upside, the next main price level is at 1655.

Failure to breakout above this level means we can expect gold to settle within the said levels of 1655 and 1630.

A breakout from this range, we can expect the direction to be maintained. To the downside, the support at 1594 will be the target.

About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

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