XAU/USD Technical Outlook

On an hourly chart, the gold price is gearing up for an upside break of the supply zone placed in a narrow range of $1,739-1,745. On short term chart a crossover represented by the 15-and 30-period Exponential Moving Averages (EMAs) at $1,726.00 has bolstered the odds of a bullish reversal. Adding to that, the Relative Strength Index (RSI) has shifted into the bullish range of 60-80.00, which signals more gains ahead.

On intra day chart near resistance level placed at $1740 if market cross this level gold prices move towards to the level of $1750. on the flip side $1730 react as a support level.

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