XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD continues to trade near record highs around the $4,650 level, supported by strong safe-haven demand. During Asian trading on Wednesday, XAUUSD printed a fresh all-time high at $4,639.77, highlighting persistent bullish momentum. The advance in precious metals is being reinforced by growing expectations of Federal Reserve rate cuts, following softer-than-expected US inflation data. December inflation figures signaled easing underlying price pressures, strengthening the view that inflation in the United States is gradually cooling. This macro backdrop continues to underpin gold prices, aligning with the broader bullish technical structure and keeping upside risks firmly in focus
Key Resistance Zone
Upside progress is currently capped by a key supply area:
- $4,635 – $4,650 (recent swing high and intraday rejection zone)
- $4,680 – $4,700 (major psychological and extension resistance)
A sustained break and hold above $4,650 would strengthen bullish continuation prospects.
Key Support Zone
Gold is supported by a layered demand structure below current price:
- $4,585 – $4,600 (near-term support and trend base)
- $4,550 – $4,565 (prior breakout zone and structural support)
A decisive break below $4,550 would signal deeper corrective risk toward lower daily supports.
Expectations
Bullish Scenario (Primary)
As long as XAUUSD holds above $4,585, buyers are likely to remain in control. A clean breakout above $4,650 could open the door for a continuation move toward $4,680–$4,700 and potentially higher extensions.
Bearish Scenario (Alternative)
Failure to hold $4,585 followed by a breakdown below $4,550 would indicate a deeper correction, with downside risk extending toward previous demand zones. This scenario would remain corrective unless the broader higher-timeframe structure breaks.
Outlook
Gold remains technically bullish overall, supported by strong higher-timeframe structure. While short-term consolidation may persist near resistance, the bias stays constructive as long as price holds above key support levels. A confirmed breakout above $4,650 would likely trigger the next bullish expansion phase.
