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Gold (XAU/USD) Price Forecast: XAU Tests Key Support at 50-Day Moving Average
Gold’s action near the 50-Day MA could determine direction, as prior pullbacks found support there and closed back above, avoiding deeper declines. Gold fell to a new pullback low of $3,295 on Tuesday before there were signs of support. That was an 11-day low and an initial test of support around the interim swing low from early June at $3,293. More significant is the relationship with the 50-Day MA. It was breached today on a drop below $3,322. What happens next may provide a key clue as the 50-Day line has represented dynamic support for the uptrend since it was reclaimed in early-January. There were two periods ... (full story)
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- Jun 24, 2025 5:40pm Posted byTechnical Analysis338
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