Technical Analysis: XAUUSD

XAUUSD reached a record high again

On Tuesday, XAUUSD continued rising, and broke above the US$5190 mark for some time, reaching a record high again.

Safe-haven demand was strong

Recently, boosted by continued geopolitical tension and economic uncertainty, safe-haven demand was strong.

The USDX hit a four-year low

On Tuesday, the USDX fell to 95.51 for some time, hitting a four-year low. It ended down 1.32% at 95.75.

The bullish market trend prevailed

the Chart of the Day

On the chart of the day, XAUUSD continued rising. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that XAUUSD will climb further. Investors should focus on whether XAUUSD will break through the resistance at 5250. It will climb with potential resistance at 5300 if it breaks above 5250.

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 5150. It will jump if it retreats but is stable above 5150.

Key resistance: 5250,5300

Key support: 5150,5110

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as XAUUSD retreats during the day.