On the XAU/USD chart, gold is entering a decisive phase, hovering around $2,661.845. This is a sensitive trading zone where buyers face a major challenge – breaking the resistance level at $2,668.401 to continue the upward momentum.
The main resistance lies at $2,681.950 – a key threshold, and if surpassed, it could trigger a strong rally, pushing gold towards the $2,700 - $2,710 target range.
The EMA 34 and EMA 89 lines are acting as solid “boosters” for the current bullish trend, but the question remains: will they be strong enough to prevent a deeper pullback amid selling pressure?
The biggest highlight today is the release of the U.S. Non-Farm Employment Change report – a powerful indicator with a significant impact on the gold market and the U.S. dollar.