The daily chart for the XAU/USD pair shows that it retreated below the 200 SMA, which is now providing dynamic resistance at around 1,791.20. A more relevant one is the daily high of $1,797.10. The 20 SMA has turned flat below the current level but still stands well above the 100 SMA. Finally, technical indicators ease within positive levels, reflecting the ongoing slide rather than suggesting more declines ahead.
In the near term, and according to the 4-hour chart, XAU/USD is neutral-to-bearish. The bright metal has extended its decline below a mildly bullish 20 SMA, while the longer ones remain far below the current level. The Momentum indicator, in the meantime, is now flat at around its 100 line, while the RSI heads firmly south at around 46, anticipating a potential slide.
Support levels: 1,775.15 1,762.70 1,749.10
Resistance levels: 1,797.10 1,807.30 1,818.90
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