The daily chart for the XAUUSD pair favors a continued advance, with market players eyeing a potential breakout of the $1,800 mark. Technical indicators in the mentioned time frame consolidate within overbought levels without signs of upward exhaustion. At the same time, the bright metal develops above its 20 and 100 SMAs, with the shorter one advancing below the longer one. Finally, the 200 SMA reinforces the resistance area around the aforementioned threshold, now at $1,803.15.
The near-term picture favors higher highs ahead. In the 4-hour chart, technical indicators turned marginally higher despite standing in overbought territory as the pair develops above bullish moving averages. The 20 SMA guides the metal higher, while the 100 SMA is crossing above the 200 SMA, both far below the current level at around $1,670, still reflecting buyers’ strength.
Support levels: $1,762 and $1,750
Resistance levels: $1,782 and $1,795