XAU/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
XAU/USD has possibly transitioned from a bearish trend into a strong bullish reversal following an aggressive V-shaped recovery off the July lows. The price has cleared the 30-period Simple Moving Average (SMA), which has now curled upward to support the new momentum, leaving the current market price at 4163.895. The asset is currently experiencing a minor consolidation just underneath immediate horizontal resistance at 4210.00; a clean break above this ceiling opens the door toward the major swing high at 4350.0000. Conversely, if this cooling-off period deepens, strong confluence support is expected within the 4050.00 to 4075.00 zone, where the rising SMA 30 stands ready to catch potential pullbacks and maintain the broader bullish outlook.





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