Technical Analysis: XAUUSD

XAUUSD reached a record high

On Monday, boosted by risk aversion, XAUUSD continued rising and reached a record high. It ended up 1.25% at US$3122.97 per ounce.

Trump will announce reciprocal tariff policies

The US President Trump will announce reciprocal tariff policies on the 2^nd April in the White House Rose Garden, the White House Press Secretary Levitt said.

Gold ETF holdings increased

As of 31^st March, gold ETF holding increased by 1.44 tons to 933.38 tons, according to the data from the world’s largest gold ETF——SPDR Gold Trust.

Technically speaking, the bullish market trend prevailed

the Chart of the Day

On the chart of the day, XAUUSD continued climbing. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that XAUUSD will rise further. Investors should focus on whether XAUUSD will break through the resistance at 3150. It will jump further with potential resistance at 3200 if it breaks above 3150.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and climbed. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that XAUUSD will rise further. Investors should focus on whether XAUUSD will break through the support at 3120. It will jump if it retreats but is stable above 3120.

Key resistance: 3150,3200

Key support: 3120,3100

Generally speaking, XAUUSD is more likely to rise further because of risk aversion. Investors should focus on US economic data during the day.