XAUUSD Technical Analysis: RSI & Fibonacci

 

Key Takeaways

• Gold (XAUUSD) remains in a strong bullish structure on the daily timeframe.
• RSI shows strong momentum with potential for short-term pauses.
• 4370 stands out as a key support level on any pullback.
• Fibonacci resistance levels point toward 4578 and 4935 as upside targets.
• The broader trend remains constructive while dynamic supports hold.

Gold (XAUUSD) continues to trade within a strong bullish structure on the daily chart, supported by higher highs and higher lows. After a period of consolidation, price action has regained upside momentum, suggesting buyers remain in control.

This technical outlook builds on our previous gold analysis, where we highlighted that a confirmed breakout above resistance could open the path toward higher price discovery, with the 4500 level acting as a key reference point.

Daily Chart Structure

On the daily timeframe, price remains well above key moving averages, confirming a healthy bullish structure. The market continues to respect rising dynamic support, suggesting that pullbacks are being defended rather than sold aggressively.

Any pullback toward the 4370 area is expected to act as strong support, as this level aligns with recent price acceptance and previous breakout behavior. As long as price holds above this zone, the broader bullish structure remains intact.

RSI Momentum Analysis

The daily RSI continues to trend higher and is approaching the upper range, reflecting strong bullish momentum. While this suggests continuation strength, it also increases the likelihood of short-term consolidation rather than a straight-line move higher.

Importantly, RSI has respected its rising trendline, indicating that momentum remains constructive rather than showing bearish divergence at this stage.

Fibonacci Extension Outlook

Using Fibonacci extensions from the previous impulse move, price is approaching key expansion zones. These levels often act as natural reaction areas where price may pause before continuation or correction.

In addition to the psychological 4500 level discussed previously, Fibonacci resistance levels at 4578 and 4935 stand out as the next upside targets if bullish momentum continues. These zones represent extension objectives rather than immediate resistance and may require consolidation before continuation.

Key Technical Levels

Level Type	Price Area	Significance
Resistance	4935	Upper Fibonacci extension target
Resistance	4578	Fibonacci resistance and continuation zone
Resistance	4500	Psychological level and breakout reference
Support	4370	Strong support on any pullback
Dynamic Support	50-day MA	Short-term trend support
Dynamic Support	100-day MA	Medium-term trend confirmation
Dynamic Support	200-day MA	Major long-term trend support
Trend Support	Rising trendline	Maintains bullish market structure

Trading Bias

The overall bias for XAUUSD remains bullish as long as price holds above the 4370 support zone and respects rising dynamic supports. Pullbacks are viewed as corrective within a broader uptrend, while a clear loss of key support would be required to shift the bias to neutral or bearish.

Final Thoughts

Gold remains technically strong on the daily timeframe, supported by momentum indicators and Fibonacci expansion levels. While short-term consolidation is possible due to RSI conditions, the broader structure continues to favor higher prices rather than a trend reversal.

As highlighted previously, the 4500 level remains a key upside reference, with 4578 and 4935 acting as extended Fibonacci targets if bullish momentum persists.

Risk Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Trading and investing involve risk, and market conditions can change rapidly.