XAU/USD Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The 4-hour XAU/USD chart demonstrates strong short-term bullish momentum following an explosive breakout above a multi-week consolidation range 4000.00- 4185.00, reaching a high of 4213.925 well above the rising 14 SMA 4093.91. However, the long upper wick on the latest candle reveals immediate rejection around the 4,200 barrier and indicates an overextended market relative to its moving average a sustained 4-hour close above 4,200 clears the path toward the 4350.00 upper target, whereas failure to hold 4185.00 could trigger a healthy pullback toward the 4150.00, 4185.00 retest zone or dynamic SMA support before the next leg higher.



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