Technical Analysis
07.04.2025, 05:40

Gold consolidated below MA (200) H1

On Friday, the XAU/USD traded lower and closed the day in the red zone near the price of 3035. Today, gold traded in the range of 2971-3055, remaining near the closing price of Friday. On the hourly chart, XAU/USD broke through and consolidated below the moving average line MA (200) H1 (3082). On the four-hour chart, gold still remains above the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while gold remains below MA 200 H1, it may be necessary to look for entry points for selling to form a correction.

  • Resistance levels are at: 3055, 3086, 3135
  • Support levels are at: 2971, 2932-39, 2908

Probably, the main scenario is a continuation of the decline to 2971 (Apr 7 low).

An alternative scenario implies consolidation above MA 200 H1 with subsequent growth to 3167 (Apr 3 high).

Quotes
Symbol Bid Ask Time
AUDUSD 0.64098 0.64101 22:59:58
EURUSD 1.1247 1.12488 22:59:46
GBPUSD 1.32966 1.32982 22:59:59
NZDUSD 0.59069 0.59078 22:59:00
USDCAD 1.39379 1.39401 22:59:01
USDCHF 0.83153 0.83166 22:59:55
USDJPY 145.365 145.389 22:59:59
XAGEUR 29.067 29.138 22:58:59
XAGUSD 32.713 32.761 22:58:59
XAUUSD 3324.78 3326.61 22:58:59

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