Gold Price Analysis: XAU/USD refreshes intraday low below $1,800 but buyers can stay hopeful

  • Gold fizzles the previous day’s strong upside momentum.
  • 100-day SMA, two-week-old horizontal resistance limit immediate upside.
  • 21-day SMA, $1,760–55 will test the short-term bears.

Gold drops to the day's fresh low of $1,790.71, down 0.13% on a day, during Tuesday’s Asian session. In doing so, the yellow metal eases below the key $1,800 resistance amid the recently weakening Momentum indicator.

Sellers seem to attack 38.2% Fibonacci retracement of January–March downside, near $1,785, a break of which will extend the latest pullback towards 21-day SMA level close to $1,766.

However, any further downside will be challenged by the broad support zone comprising multiple levels since late February around $1,760–55.

Meanwhile, further upside needs to provide a daily closing beyond the $1,800 threshold to attack late February tops surrounding $1,816 and 50% Fibonacci retracement level near $1,819.

In a case where gold remains firm above $1,819, 61.8% Fibonacci retracement level close to $1,851 and February’s high of $1,855.50 will be the key to watch.

Gold daily chart

Trend: Pullback expected

Additional important levels

Today last price 1791.16
Today Daily Change -1.78
Today Daily Change % -0.10%
Today daily open 1792.94
Daily SMA20 1765.58
Daily SMA50 1745.5
Daily SMA100 1799.34
Daily SMA200 1854.8
Previous Daily High 1798.02
Previous Daily Low 1766.17
Previous Weekly High 1790.03
Previous Weekly Low 1756.18
Previous Monthly High 1797.93
Previous Monthly Low 1705.84
Daily Fibonacci 38.2% 1785.85
Daily Fibonacci 61.8% 1778.34
Daily Pivot Point S1 1773.4
Daily Pivot Point S2 1753.86
Daily Pivot Point S3 1741.55
Daily Pivot Point R1 1805.25
Daily Pivot Point R2 1817.56
Daily Pivot Point R3 1837.1



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