Today Technical Analysis: Gold attempts to break above $4,400 resistance level as the US dollar weakens

Gold Technical Analysis

Gold is showing a bullish recovery structure on the 1-hour chart, trading around $4,397 after rebounding strongly from the recent low near $4,311. Price has established a series of higher lows and recovered toward the $4,400 area. The moving averages have also turned more constructive, with the MA5 above the MA10 and MA20.

The key resistance remains around $4,415–$4,420, followed by the recent high around $4,450. A sustained break above $4,420 would strengthen the bullish recovery and could put $4,450 back into focus. A break above $4,450 would be particularly significant because it would invalidate the recent corrective structure and potentially signal a resumption of the broader upside trend. On the downside, $4,380 is the first important support, closely aligned with the MA20, while $4,339–$4,340 represents a stronger support area.

The technical bias is cautiously bullish above $4,380, with $4,420 and $4,450 as the main upside levels to watch. A sustained move below $4,380, however, would weaken the recovery and could expose gold to another test of $4,340.

Gold 1H Chart

Source: STARTRADER app | Gold remains bullish as it attempts to break above $4,400 resistance level

S&P 500 Technical Analysis

The S&P 500 is showing a moderately bullish short-term structure. Buyers have managed to regain control and push the index back above the short-term moving averages. The MA5 is now above the MA10 and MA20.

The immediate resistance is around 7,825, which corresponds to the recent intraday high. A decisive break above this level could signal a continuation of the bullish trend toward 7,835–7,850. On the other hand, the area around 7,800 has become an important short-term support zone, as the moving averages are clustered there. Below this, the next support can be found around 7,775, followed by the stronger 7,745–7,750 region.As long as the index remains above 7,775, the short-term bias remains cautiously bullish, but a break below this level could trigger another move toward 7,745.

S&P 500 1H Chart

Source: STARTRADER app | The S&P 500 continues to trade near record highs above 7,800

EURUSD Technical Analysis

EURUSD maintains a strong bullish bias on the 1-hour chart, with the pair trading around 1.1591 after breaking above the previous consolidation range. The moving averages also support the positive momentum, as the MA5 remains above the MA10 and MA20, while all three averages are pointing upward.

The pair is now approaching the psychological 1.1600 level, which represents the immediate resistance and the next potential target for buyers. A sustained break above 1.1600 could open the way toward 1.1620–1.1630. On the downside, the first important support is around 1.1575, followed by 1.1550–1.1551 and then the stronger support zone around 1.1527.

Momentum remains positive. A pullback toward this area followed by renewed buying would strengthen the bullish setup, while a break below 1.1550 would weaken the current momentum and increase the possibility of a deeper correction.

EURUSD 1H Chart

Source: STARTRADER app | Gold remains bullish as it attempts to break above $4,400 resistance level

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