Is the Federal Reserve going to raise interest rates? That is pushing yields on short-term bonds higher, but weighing heavily on 10-year Treasury returns – which is good for gold. XAU/USD has finally recaptured $1,800 in what looks like a meaningful move that may usher in a weekly close above that battle line.  

How is gold positioned on the technical chart? 

Gold Price: Key levels to watch

The Technical Confluences Detector is showing that some resistance awaits at $1,811, which is the previous week’s high.

It is followed by $1,814, which is where the previous monthly high converges with the Bollinger Band one-day Upper. 

Further up, a strong cap awaits at $1,817, which is where the Pivot Point one-day Resistance 2 and the PP one-month R1 meet up.

Some support is at $1,805, which is the confluence of the BB 15min-Upper and the PP one-week R1. 

Further down, a critical cushion is at $1,799, which is a juncture including the Fibonacci 23.6% one month and the previous daily high. 

XAU/USD Confluence levels

About Technical Confluences Detector

The TCD (Technical Confluences Detector) is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc.  If you are a short-term trader, you will find entry points for counter-trend strategies and hunt a few points at a time. If you are a medium-to-long-term trader, this tool will allow you to know in advance the price levels where a medium-to-long-term trend may stop and rest, where to unwind positions, or where to increase your position size.

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