Gold technical analysis: Yellow metal ends the week on its lows, sub-$1480/oz

Flavio Tosti Independent Analyst

Gold daily chart

The market is retracing down below the 50 and 100 DSMAs. A break below 1455.50 swing low could open the doors to further losses towards the 1400 handle.

Alternatively, if the buyers can support the market, Gold could revisit 1480 and the 1500 level. A break above the 1520/1555 resistance can lead to a resumption of the uptrend.

Additional key levels

XAU/USD

Overview
Today last price	1462.93
Today Daily Change	-5.06
Today Daily Change %	-0.34
Today daily open	1467.99

Trends
Daily SMA20	1493.18
Daily SMA50	1500.76
Daily SMA100	1476.26
Daily SMA200	1389.78

Levels
Previous Daily High	1492.2
Previous Daily Low	1461.14
Previous Weekly High	1515.38
Previous Weekly Low	1481.1
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1473
Daily Fibonacci 61.8%	1480.33
Daily Pivot Point S1	1455.35
Daily Pivot Point S2	1442.71
Daily Pivot Point S3	1424.28
Daily Pivot Point R1	1486.41
Daily Pivot Point R2	1504.84
Daily Pivot Point R3	1517.48

Author

Flavio Tosti

Independent Analyst

EUR/USD looks to regain the 200-day SMA

EUR/USD regains some balance and trade just above 1.1600 the figure ahead of the opening bell in Asia. The pair initially dipped to the 1.1530 zone for the first time since November, always following the stronger US Dollar and the marked flight-to-safety in the context of the ongoing Middle East crisis

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold bounces off lows, back above $5,100

Gold remains on the defensive, eroding part of the recent multi-day advance and managing to trade back above the $5,100 mark per troy ounce on Tuesday. The precious metal initially dropped just below the critical $5,000 threshold on the back of the persistent strength of the Greenback, higher US Treasury yields across the curve and investors' repricing of Fed rate cuts.