XAUUSD has seen further consolidation around the 1440 – 1490 zone but ultimately closed last week near the top of the recent trading range, and above the W1 200 SMA. Gold has rallied almost 5% over the previous two weeks. However, we note that price has not yet managed to test the previous strong support area around XAUUSD $1530. This area could potentially see an element of resistance if hit over the coming sessions. Conversely, if the price of gold can push through the 1530 previous support on a sustained basis, it could possibly signal a resumption of the previous 1530 – 1800 area range trading scenario in the mid ... (full story)