Gold pulls back from two-week highs as US Dollar stages a rebound
WikiBit 2025-11-26 22:26
Gold (XAU/USD) holds firm on Wednesday as traders lean into a more dovish Federal Reserve (Fed) outlook, with XAU/USD trading around $4,145, easing
From a technical perspective, Gold is attempting a breakout from a symmetrical triangle pattern on the daily chart. A successful move above the pattern resistance would strengthen the bullish trend, opening the door for upside targets near $4,200 and $4,250.
On the downside, initial support is seen around $4,150, while stronger support sits near $4,050–$4,070 at the base of the triangle, which is also aligned with the 21-day Simple Moving Average (SMA).
The Relative Strength Index (RSI) stands at 60.45, indicating firm positive momentum and supporting the bullish bias, with further room to rise before reaching overbought territory.
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