XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD is showing signs of corrective consolidation after its strong bullish rally earlier this year. The sharp rejection from the recent peak above the 5,500 regions triggered a deep pullback toward the 4,450 – 4,500 zone, followed by a recovery phase.
However, the rebound lacks strong bullish continuation, and price is now stabilizing around the 4,920 – 4,950 area. The structure on the daily timeframe reflects a transition from impulsive bullish momentum into a corrective range, with lower highs forming in the short term.
Key Resistance Zone
The nearest resistance is located at 5,000 – 5,050, a zone that previously acted as support and is now functioning as short-term supply.
Additional resistance levels:
- 5,150
- 5,300 – 5,350 (major rejection zone)
As long as gold trades below 5,050, upside momentum remains limited and corrective in nature.
Key Support Zone
Immediate support is seen at 4,880 – 4,900, where price is currently attempting to stabilize.
A breakdown below 4,880 would expose:
- 4,750
- 4,600 – 4,650 (major structural support)
A daily close below 4,600 would signal a deeper corrective phase and shift the medium-term bias further bearish.
Expectations
Bearish Scenario (Primary)
If price remains below 5,050, gold may resume downside pressure.
A break below 4,880 could accelerate the decline toward 4,750, with potential extension toward 4,600.
Bullish Scenario (Alternative)
A sustained move above 5,050 would signal renewed bullish strength, opening the path toward:
- 5,150
- 5,300 – 5,350
Reclaiming 5,300 would restore the broader bullish structure.
Outlook
Gold is currently in a corrective phase within a broader bullish trend. The short-term bias remains slightly bearish while below 5,050, with risks tilted toward another test of lower support. A decisive break above resistance is required to confirm renewed upside continuation.
