Technical Analysis: XAUUSD

XAUUSD climbed for three consecutive trading days

Last Friday, XAUUSD climbed for the third straight trading day. At one point, it came close to the US$4200 mark and reached the highest level since 23^rd June.

US non-farm payrolls (June) failed to meet market expectations

US Non-Farm Payrolls (June) increased by 57,000, which is lower than the forecast of 110,000 and the prior value of 129,000, according to the data from the US Bureau of Labor Statistics.

Gold ETF holdings stayed the same

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As of 3^rd July 2026, gold ETF holdings reached 1001.366 tons, staying the same as that on 2^nd July, according to the data from the world’s largest gold ETF—— ‌SPDR Gold Trust‌.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, XAUUSD rose steadily. The bullish market trend prevailed in the short term. 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 resistance at 4250. It will jump further with potential resistance at 4330 if it breaks above 4250.

4-hour chart

On the 4-hour chart, XAUUSD was prone to fluctuation and climbed. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether XAUUSD will break through the support at 4155. It will rise if it retreats but is stable above 4155.

Key resistance: 4250,4330

Key support: 4155,4100

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