XAU/USD technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
XAU/USD is in a very strong, long-term uptrend. Recently, the price hit an all-time high near 4380 but was rejected. It has now pulled back to around 4169. The most recent weekly candle is small, showing indecision between buyers and sellers. The RSI indicator is in the "overbought" zone, which suggests the rally is extended and could be due for a pause or correction. The main trend is up, but it's currently paused and showing signs of being over-extended. The key levels to watch are the 4380 high and the 4000 support level.



The RSI indicator is in the "overbought" zone, which suggests the rally is extended and could be due for a pause or correction. IThe main trend is up, but it's currently paused and showing signs of being over-extended. The key levels to watch are the 4380 high and the 4000 support level.
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