$XAU Technical Analysis: On the D1 chart, gold prices maintain strength near $4665 with a clear upward trend. Prices continue to climb along the 5-day moving average, showing limited short-term pullbacks and indicating strong bullish control. The 5-, 10-, and 20-day moving averages form a bullish alignment, with short-term moving averages providing close support. The daily structure remains in a primary upward wave phase.
Although MACD red bars have slightly contracted, they remain elevated and expanding, indicating sustained momentum. RSI has entered the strong zone above 70, showing short-term technical overbought signals, yet the overall trend remains bullish. Key resistance levels are at $4700 and $4725, while support levels are at $4630 and $4580. Overall, the probability of short-term consolidation at elevated levels is increasing.
This gold rally incorporates both risk premium and technical trend factors. Tariff friction between Europe and the US, along with potential European countermeasures, provide robust safe-haven support for gold. However, strong US economic data and delayed rate cut expectations exert short-term downward pressure on gold. Intraday short-term support is near $4645. Follow the trend and maintain a Buy-focused trading strategy! XAUUSD Strategy: Buy: 4653-55 TP: 4675-78-80 SL: 4640