Technical analysis of XAUUSD today. Gold is facing mixed pressures between safe-haven demand and the rising US dollar. After falling from a high of 3385 at the beginning of the week, the price is attempting to consolidate above the 3300-support level. This comes amid cautious anticipation of upcoming US inflation data, which could reshape market expectations regarding monetary policy.
Technical analysis of XAUUSD today: Gold Technical Overview
The price is currently trading at $3325 per ounce after a technical rebound from the 3300 level, which formed a strong support area. Gold is moving within a corrective wave from the previous high, but it still maintains some upward momentum as long as it is stable above the 3310–3300 area.
Technical Indicator Analysis
- MACD: Showing a short-term bullish crossover, with positive bars beginning to improve, supporting upside attempts.
- Stochastic: Moving higher from oversold areas, enhancing the likelihood of a continued rebound in the US session.
- Moving Averages: The price remains below the short-term moving averages (20 and 50 EMAs), but it is very close to retesting them, making 3335 a crucial technical resistance level.
Expected Scenarios for Gold
Bullish Scenario
If gold succeeds in holding above 3310 and breaking 3335, we may witness a rise towards 3342 and then 3355. A break above 3365 will restore complete control to buyers, targeting 3385 again.
Bearish Scenario
A break of the 3300 supports will re-establish pressure towards 3290, and the decline may extend towards 3270, a strong support area in the short term, especially if the dollar data is positive.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | XAU/USD |
| 3334.12 | 3319.91 | Entry point |
| First resistance: 3345.49 | First support: 3300.96 | Target Point 1 (TP1) |
| Second resistance: 3355.00 | Second support 3290.00 | Target Point 2 (TP2) |
| 3319.91 | 3334.12 | Stop Loss (SL) |
Gold is testing crucial technical levels between 3310 and 3335. Holding above 3310 supports upward attempts, but sellers may return strongly if the price fails to surpass 3335. The US session will be pivotal in determining the direction, with cautious awaiting for any market signals regarding the dollar or monetary policy.
