- XAU/USD bulls are eying at the 2020 highs.
- Buyers' short term targets can be located near the 1610.30 and 1614.31 levels.
Gold daily chart
XAU/USD is trading in a bull trend above the main daily simple moving averages (SMAs). Gold is rising in a bullish channel as the market is challenging $1600 per ounce.
Gold four-hour chart
XAU/USD is breaking above the 1600 mark. Bulls want to extend gains towards 1610.30 and 1614.31 resistance levels as bulls remain firmly in control. On the flip side, pullbacks down may find support near the 1589.38, 1584.39 and 1579.40 levels, according to the Technical Confluences Indicator.
Resistance: 1599.35, 1610.30, 1614.31
Support: 1589.38, 1584.39, 1579.40