Palladium Price Analysis: XPD/USD recovery hinges over 50-DMA breakout

  • Palladium snaps three-day downtrend, keeps bounce off two-month-old horizontal support.
  • Receding bullish bias of MACD signals another attempt to visit 100-DMA.
  • Buyers may aim for monthly top beyond 50-DMA.

Palladium (XPD/USD) consolidates weekly losses around intraday high, up 0.24% on a day close to $2,762, as European traders brace for Friday’s bell.

In doing so, the precious metal rises for the first time in four days following its U-turn from a horizontal line stretched from late May. However, MACD conditions suggest that the buyers doubt the recovery moves and await a clear break of the 50-DMA hurdle, near $2,783.

Following that, the $2,800 round-figure and the monthly high close to $2,883 will be in focus before directing the palladium bulls to the $3,000 psychological magnet and the all-time high, flashed last month, surrounding $3,020.

On the flip side, a daily closing below the stated immediate support of $2,737 will be tested by the 100-DMA level of $2,721. Also acting as the downside filter is the $2,700 threshold.

To sum up, XPD/USD remains on the pullback mode despite the latest bounce.

Palladium: Daily chart

Trend: Pullback expected

Additional important levels

Today last price 2762.02
Today Daily Change 6.51
Today Daily Change % 0.24%
Today daily open 2755.51
Daily SMA20 2730.13
Daily SMA50 2786.55
Daily SMA100 2716.73
Daily SMA200 2536.12
Previous Daily High 2816.2
Previous Daily Low 2737.26
Previous Weekly High 2882.78
Previous Weekly Low 2769.1
Previous Monthly High 2872.28
Previous Monthly Low 2461.72
Daily Fibonacci 38.2% 2767.42
Daily Fibonacci 61.8% 2786.04
Daily Pivot Point S1 2723.11
Daily Pivot Point S2 2690.72
Daily Pivot Point S3 2644.17
Daily Pivot Point R1 2802.05
Daily Pivot Point R2 2848.6
Daily Pivot Point R3 2880.99



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