XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD extended its strong bullish trend, remaining well bid above the $5,240 level and printing a fresh record high near $5,300. The rally continues to be underpinned by a weaker US Dollar, ongoing geopolitical tensions, and heightened safe-haven demand as investors remain cautious ahead of the Federal Reserve’s interest rate decision. These macro drivers are reinforcing bullish momentum, while the technical structure remains firmly constructive, with price maintaining higher highs and higher lows across major timeframes and holding above rising moving averages, confirming sustained upside control by buyers.
Key Resistance Zone
The nearest resistance is now concentrated around $5,310 – $5,335, where price is pressing into fresh highs and may face short-term profit-taking.
Additional resistance levels:
- $5,350 – $5,395 (next upside extension zone)
- $5,425+ (upper continuation target if bullish momentum accelerates)
As long as price remains above the recent breakout base, upside pressure stays dominant.
Key Support Zone
Immediate support is located at $5,245 – $5,265, aligning with the latest breakout structure and rising short-term trend support.
Deeper support zones include:
- $5,190 – $5,215 (prior consolidation and trend support)
- $5,135 – $5,165 (major structural base)
Holding above $5,190 – $5,215 keeps the bullish structure intact.
Expectations
Bullish Scenario (Primary)
As long as gold sustains above $5,245 – $5,265, buyers remain in control, with potential continuation toward $5,310 – $5,335. A breakout above this zone would open the door toward $5,350 – $5,395, with further upside extension possible if momentum remains impulsive.
Bearish Scenario (Alternative)
A rejection from $5,310 – $5,335 may trigger a corrective pullback toward $5,245 – $5,265. A breakdown below this area could extend the pullback toward $5,190 – $5,215. Only a sustained loss of $5,135 – $5,165 would begin to weaken the broader bullish structure.
Outlook
Gold remains decisively bullish, supported by both strong technical structure and favorable macro drivers. As long as price holds above $5,245 – $5,265, the upside trend remains intact, while deeper pullbacks would only be viewed as corrective unless key structural support levels are broken.
