XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD remains in firmly bullish structure across higher timeframes, with price continuing to post higher highs and higher lows. The recent impulsive rally has been followed by a shallow consolidation, suggesting healthy price digestion rather than trend exhaustion. Moving averages remain positively aligned, reinforcing underlying bullish momentum.
On lower timeframes, price action shows tightening ranges, indicating a potential volatility expansion ahead while maintaining upside bias as long as key supports hold.
Key Resistance Zone
Upside progress is currently capped near recent highs:
- $4,620 – $4,640 (recent swing high and short-term supply)
- $4,680 – $4,700 (major psychological and extension resistance)
A clean breakout above $4,640 would likely open the door for continuation toward the higher resistance band.
Key Support Zone
Price is holding above an important demand area:
- $4,580 – $4,590 (short-term structure support)
Below this, deeper support levels are located at:
- $4,520 – $4,540 (prior breakout zone and dynamic MA support)
This zone is critical to preserve the broader bullish structure.
Expectations
Bullish Scenario (Primary)
As long as XAUUSD holds above $4,580, buyers are likely to remain in control. A sustained break above $4,640 would confirm trend continuation, targeting $4,680 and potentially $4,700.
Bearish Scenario (Alternative)
A breakdown below $4,580 could trigger a deeper pullback toward $4,540. Only a sustained move below this level would signal a short-term structural shift and increase downside risk.
Outlook
Gold remains technically bullish, supported by strong higher-timeframe structure and well-aligned moving averages. While short-term consolidation may persist, the broader outlook favors continuation higher unless price decisively loses the $4,580 support zone.
