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The daily chart for the XAU/USD pair favors a bullish continuation, but the price is currently facing resistance around the $1,935 zone. The pair topped last week at $1,937.47. The metal needs to consolidate above $1,935.00 to open the door to an upward extension. Technical indicators in the mentioned time frame remain within overbought readings. The RSI is moving south, about to slide below 70. The 20-day Simple Moving Average (SMA) heads firmly north, far below the current level but above the longer ones at around $1,869.40.

For the near term, and according to the 4-hour chart, XAU/USD is slightly biased to the downside. The rebound from $1,910 took Gold back above the 20-SMA in the mentioned chart ($1,920) avoiding a deterioration in the technical outlook. If it drops back below it, attention would turn to $1,912, the last strong defence before the critical $1,900.

The XAU/USD pair trades flat for the day, with no signs of giving up further ground. The daily chart shows that technical indicators corrected extreme overbought readings before turning flat well into positive territory without signaling more weakness ahead. At the same time, the 20 SMA heads north almost vertically, far below the current level while above the longer ones, reflecting buyers' strength.

The 4-hour chart suggests the pair could fall further in the near term. It was unable to sustain gains above a mildly bullish 20 SMA and is back below the indicator, although still far above a bullish 100 SMA, currently at around $1,858.15. Finally, technical indicators turned south and pierced their midlines, maintaining their firmly bearish slopes within neutral levels. A break below the daily low at $1,890.54 could see the current corrective decline extending towards the $1,850 region.

The daily chart for the XAU/USD pair shows that it holds above the previous weekly high at $1,886.63, an immediate support level. The Momentum indicator resumed its advance within positive levels but remains below its weekly high, while the Relative Strength Index (RSI) index grinds higher, currently advancing at around 70.  At the same time, the 20 Simple Moving Average (SMA) accelerated north well above the longer ones while below the current level, all of which hints at continued buying pressure.

In the near term, and according to the 4-hour chart, the case for a bullish continuation is clear. A firmly bullish 20 SMA keeps leading the way higher by providing intraday support, currently at around $1,878.10. The longer moving averages also head higher, well below the shorter one. Finally, technical indicators resumed their advances within positive levels, ending the consolidative phase from the last few days.

Support levels: 1,878.10 1,867.05 1,856.90

Resistance levels: 1,901.70 1,914.20 1,926.00

From a short-term technical perspective, Gold price is once again testing bearish commitments above the critical horizontal trendline (triangle) resistance at $1,825 this Tuesday.

Gold bulls need a daily closing above the horizontal trendline (triangle) resistance to confirm the ascending triangle breakout. Buyers will then aim for a fresh upswing toward the psychological $1,850 level. Ahead of that the $1,840 round figure could come into play.  

The 14-day Relative Strength Index (RSI) is inching higher above the midline, backing the ongoing uptrend while the bullish crossovers continue to lend support to Gold bulls.

Alternatively, immediate support is seen at Friday’s low of $1,814. The next critical support awaits at the rising trendline (triangle support line) of $1,808. A breach of the latter could put the $1,800 threshold at risk, where the bullish 21-Daily Moving Average (DMA) hangs around.