Technical analysis of XAUUSD today. Gold has seen a sharp decline in recent sessions as the US dollar regained momentum ahead of the highly anticipated US inflation data release. After failing to hold above 3385, the price fell sharply to test the 3335–3340 area, where it is showing signs of consolidation. Gold’s movements remain subject to global market factors, amid rising tensions and liquidity volatility.
Technical analysis of XAUUSD today: Gold Technical Overview
Gold is currently trading at $3342 after a limited rebound from the 3331 low, moving within a short-term descending channel. The price is below all major moving averages on the H1 timeframe, reflecting continued selling pressure. Meanwhile, indicators are approaching oversold areas, which could support some consolidation ahead of the decision.
Technical Indicator Analysis
MACD: Remains in negative territory with strong downward momentum, with no sign of an imminent bullish crossover.
Stochastic: Moving out of the oversold zone, but has not yet shown a confirmed rebound signal.
Moving Averages: The price is below the 20, 50, and 100 moving averages, reflecting a clear downtrend.
Expected Scenarios for Gold
Bullish Scenario
If the price succeeds in rebounding and holding above 3348, we may witness an attempt to rise towards 3360, followed by 3375. The movement of the dollar and US indices should be closely monitored.
Bearish Scenario
If the price breaks the 3330 level, the decline is expected to continue towards 3317 and then 3298, which are previous support levels that could constitute a rebound in the short term.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | XAU/USD |
| 3227.33 | 3209.03 | Entry point |
| First resistance: 3239.77 | First support: 3193.35 | Target Point 1 (TP1) |
| Second resistance: 3240.77 | Second support3192.35: | Target Point 2 (TP2) |
| 3209.03 | 3227.33 | Stop Loss (SL) |
Gold is clearly technically weak after breaking key support levels and is currently trading in a critical area around 3340. Continued pressure could push it to test 3317, while hopes for a rebound remain if US inflation data comes in weaker than expected. Traders are advised to closely monitor price action around 3330 and 3348, as this will determine gold’s direction for the session.
Impactful Economic News:
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US:
- Producer Price Index (PPI) release today – may directly impact interest rate expectations.
- Any decisive statements from the Federal Reserve regarding inflation may increase gold volatility in the New York session.
