In the near term, and according to the 4-hour chart, XAU/USD is bearish. The pair trades below all its moving averages, with the 20 SMA about to cross below the 200 SMA. The latter stands at $3,232, providing relevant resistance in the case of a recovery. Finally, technical indicators lack directional strength but hold within negative levels, reflecting the absence of buying interest.
Support levels: 3,173.80 3,158.40 3,142.65
Resistance levels: 3,198.20 3,215.80 3,232.10
Support levels: 3,173.80 3,158.40 3,142.65
Resistance levels: 3,198.20 3,215.80 3,232.10
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