With XAU/USD trading into all-time highs, technical barriers are difficult to draw into the charts, though intraday price action is seeing some hesitation at $2,150.00, a level that saw a sharp rejection recently. Spot Gold has traded on the bullish side since crossing above the 200-hour Simple Moving Average (SMA) in mid-February near $2,015.00.
XAU/USD caught several bounces from the 200-hour SMA near $2,030.00, and the key technical barrier is rising towards $2,070.00 as the closest near-term price floor for any bearish pullbacks.
Spot Gold prices are on pace to close bullish for a sixth consecutive day, and XAU/USD has closed in the green or close to flat for all but two of the last fourteen trading days straight
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