This article provides a detailed XAU/USD technical analysis for Friday, June 6, 2025, as gold's price action enters a critical phase. Following a sharp downturn, the metal is consolidating, and by examining key chart patterns, we can identify crucial levels and forecast potential movements for traders.
Source: cTrader platform
The chart reveals a significant sell-off from highs above the 3400 mark. The current price is hovering near a key pivot point. An important part of this XAU/USD technical analysis is noting the immediate resistance at the 3365-3370 zone, which aligns with the MA50. On the downside, the MA200 provides a formidable support level to watch.
| Indicator | Level | Remark |
|---|---|---|
| Resistance 1 | ~3370 (MA50) | Immediate dynamic resistance |
| Resistance 2 | ~3400 | Previous high, psychological level |
| Support 1 | ~3335 (MA200) | Major long-term trend support |
| Support 2 | ~3310 | Previous low area |
A core component of our technical analysis is the moving averages. The price is trading below the MA50 (yellow line), a short-term bearish signal that is currently acting as dynamic resistance. However, since the price remains above the long-term MA200 (red line), the broader bullish trend is still considered intact.
The oscillator indicators provide further depth to our outlook. The MACD is below its signal line, confirming bearish momentum, though shrinking histogram bars suggest it might be weakening. The RSI is below 50, indicating sellers have an edge, but it has not reached oversold territory, leaving room for more potential downside.
In conclusion, the short-term outlook for Gold (XAU/USD) is cautiously bearish while below the MA50. The key battle is between this immediate resistance and the major MA200 support. A break above 3370 could signal a bullish reversal, while a drop below 3335 would strengthen the bearish case, making these levels critical to watch.
Stay tuned for the latest updates right here on FIXIO Blog.
※Disclaimer: This content is provided for informational purposes only and does not constitute investment advice. Please be sure to conduct your own research.
Today's XAU/USD technical analysis. See what key indicators like MA, RSI, & MACD suggest for gold's price as it tests critical levels.
Superior trade execution & trading conditions with the NDD method.
The online FX industry provides a platform for investors worldwide to engage in the buying and selling.
Subscribe to our daily newsletter and get the best forex trading information and markets status updates
Trade within minutes!
Comment (0)