XAUUSD | Daily Technical Outlook
Market Structure
XAUUSD remains firmly positioned within a strong bullish structure, following a powerful impulsive rally that pushed price to fresh highs. After the recent upside expansion, momentum has cooled, and XAUUSD has entered a controlled corrective phase, characterized by shallow pullbacks rather than aggressive selling.
Despite short-term pressure, the broader trend remains constructive, with price still holding above key breakout levels and maintaining bullish market structure.
Key Resistance Zone
The immediate resistance is located around $5495 – $5515, where recent upside attempts stalled. This zone represents short-term supply following the impulsive move higher.
Additional resistance levels:
- $5550
- $5580 – $5600 (upper extension zone if bullish momentum resumes)
As long as price trades below $5515, upside continuation may remain capped in the near term.
Key Support Zone
Initial support is found around $5450 – $5470, where price is currently attempting to stabilize.
A deeper corrective move would expose the next key support zone:
- $5400 – $5420 (major structural support)
A decisive break below $5400 would weaken the bullish structure and signal a deeper pullback phase.
Expectations
Bullish Scenario (Primary)
As long as XAUUSD holds above the $5400–$5420 support zone, the broader bullish trend remains intact. Stabilization above current levels could allow price to rebuild momentum and challenge the $5515 resistance, with scope for continuation toward higher levels.
Bearish Scenario (Alternative)
Failure to hold above $5400 would likely trigger a deeper corrective decline, shifting focus toward lower support zones. Such a move would signal extended consolidation rather than immediate trend continuation.
Outlook
Gold remains structurally bullish, with the current pullback appearing corrective after an aggressive upside move. While short-term consolidation is ongoing, buyers remain in control above $5400. A renewed push above $5515 would reinforce bullish continuation, while a break below key support would open the door for a deeper retracement before trend resumption.
