Gold Technical Analysis: Metal remains undecided below the 1465 level

The yellow metal is looking for directions in the New York session.
The market is focusing on the 1465 level, which is a critical resistance in the medium term.

Flavio Tosti Independent Analyst

Gold daily chart

Gold is starting December pressuring the 1465 resistance level while below the 50/100 SMAs. However, the bear case would entail a break below the 1445 swing low on a daily closing basis for a potential dive to the 1400 figure near the 200-day SMA.

Gold four-hour chart

The metal is challenging the 50 and 100 SMAs as the market is trying to find a clear direction hovering above the November lows. A break above the 1465 resistance can lead to further buying interest towards the 1480 level.

Additional key levels

XAU/USD

Overview
Today last price	1460.9
Today Daily Change	-3.04
Today Daily Change %	-0.21
Today daily open	1463.94

Trends
Daily SMA20	1468.19
Daily SMA50	1485.89
Daily SMA100	1484.97
Daily SMA200	1401.35

Levels
Previous Daily High	1466.62
Previous Daily Low	1453.1
Previous Weekly High	1466.62
Previous Weekly Low	1450.74
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1461.45
Daily Fibonacci 61.8%	1458.26
Daily Pivot Point S1	1455.82
Daily Pivot Point S2	1447.7
Daily Pivot Point S3	1442.3
Daily Pivot Point R1	1469.33
Daily Pivot Point R2	1474.73
Daily Pivot Point R3	1482.85

Author

Flavio Tosti

Independent Analyst

EUR/USD remains on the back foot near 1.1750

EUR/USD is coming under renewed pressure, sliding towards multi-week lows in the mid-1.1700s on Thursday. The move lower reflects another strong session for the US Dollar, with the Greenback drawing fresh support from a batch of firm US data that reinforced its underlying bid.

GBP/USD drops further, hovers around 1.3460

GBP/USD is sliding in tandem with its risk-sensitive peers, drifting back towards the 1.3440 area, its lowest levels in around four weeks. The move reflects a firmer Greenback, supported by another round of solid US data, while a somewhat divided FOMC Minutes has added an extra layer of uncertainty around the Fed’s rate path, keeping Cable on the defensive.

Gold struggles to overcome $5,000

Gold is trading with humble gains on Thursday, hovering around the key $5,000 mark per troy ounce. The yellow metal remains underpinned by renewed geopolitical tensions in the Middle East, even as a stronger US Dollar and rising US Treasury yields across the curve limit the upside and keep price action relatively contained.

Ripple slips toward $1.40 despite SG-FORGE tapping protocol for EUR CoinVertible

XRP extends its decline, nearing $1.40 support, as risk appetite fades in the broader market. SG-FORGE’s EUR CoinVertible launches on the XRP Ledger, leveraging the blockchain’s scalability, speed, security, and decentralization.

Hawkish Fed minutes and a market finding its footing

It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.