XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD remains in a firm bullish trend on the higher timeframe, but recent price action shows a controlled pullback after rejecting recent highs. Following the strong advance toward the $4,500 area, price corrected sharply before finding demand and rebounding, suggesting profit-taking rather than a structural breakdown.
The market is now trading around a key mid-range pivot, where buyers and sellers are actively competing. While momentum has cooled, the broader bullish structure remains intact as long as price holds above major support.
Key Resistance Zone
The primary resistance zone is located at $4,485–$4,500, where the latest rally attempt stalled.
Additional resistance levels:
- $4,520
- $4,540–$4,560 (major swing high / bullish continuation zone)
A sustained break and acceptance above $4,500 would confirm renewed upside momentum and signal continuation of the broader trend.
Key Support Zone
Immediate support lies around $4,440–$4,455, which has acted as a short-term demand zone following the recent selloff.
Below this zone, downside support levels include:
- $4,400
- $4,350–$4,370 (major structural support)
A daily close below $4,350 would weaken the bullish structure and open the door for a deeper corrective move.
Expectations
Bullish Scenario (Primary)
As long as Gold holds above $4,440, the broader bullish bias remains intact.
A break above $4,500 would likely push price toward:
- $4,520
- $4,540–$4,560
Bearish Scenario (Alternative)
Failure to reclaim $4,485–$4,500, followed by a breakdown below $4,440, could trigger a corrective move toward:
- $4,400
- $4,350–$4,370
This scenario would still be considered corrective unless major support fails.
Outlook
Gold is consolidating after a strong rally, with buyers defending key support while upside momentum pauses below resistance. The broader trend remains bullish, but a breakout above $4,500 is required to unlock further gains. Until then, price may remain range-bound with two-sided risk.
Bias: Bullish while above $4,440
Invalidation: Daily close below $4,350
