- XAU/USD is consolidating gains at the start of the new trading week.
- The level to beat for bulls is the 1740 resistance.
XAU/USD four-hour chart
XAU/USD is consolidating the recent gains while hovering above $1700 per troy ounce and the main SMAs on the four-hour chart. Gold bulls need a break above the 1740 resistance to move towards the 1780/1800 price zone. Occasional retracements down should find support near the 1690/1700 price zone and the 1660 level.