| Indicator | 1H | 4H | 1D |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Buy | Buy |
| Stochastic (5; 3) | Sell | Neutral | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
After breaching the lower channel boundary of a senior pattern in early June, XAU/USD formed a more recent channel down, which has managed to guide the pair downwards. The yellow metal bounced off from a support cluster formed by the bottom channel line and the monthly S1 at 1,219.26. Thus, it is expected that the pair may try to test the upper channel boundary, as reinforced by soon-to-be-bullish technical indicators. Along the way, the rate still faces the 55-, 100– and 200-hour SMAs that may hinder or even halt any efforts to move higher. Meanwhile, the existence of a rather strong down-trend does demonstrate that some further depreciation is likely to occur in this week and maybe even beyond.