Gold is currently trading right above the critical support zone at 3,220 – a level that successfully held prices two months ago. The ongoing decline remains well within a clear downtrend line that has persisted since early June. Every breakout attempt has been firmly rejected around the 3,337 level.
The price structure is forming lower highs, while multiple Fair Value Gaps (FVGs) appearing above indicate strong distribution pressure. If XAUUSD breaks below the 3,220 area, a further slide toward 3,160 is likely – a zone loaded with dense liquidity waiting below.
Post-Nonfarm news has eased bearish pressure on the USD, but the upcoming U.S. CPI release could be a game-changer. If inflation data comes in lower than expected, gold may lose the support of rate-cut expectations, paving the way for a deeper fall.
Key Zone to Watch: If 3,220 holds, a short-term technical rebound may occur. But if it breaks, closely monitor price behavior near 3,160.
The price structure is forming lower highs, while multiple Fair Value Gaps (FVGs) appearing above indicate strong distribution pressure. If XAUUSD breaks below the 3,220 area, a further slide toward 3,160 is likely – a zone loaded with dense liquidity waiting below.
Post-Nonfarm news has eased bearish pressure on the USD, but the upcoming U.S. CPI release could be a game-changer. If inflation data comes in lower than expected, gold may lose the support of rate-cut expectations, paving the way for a deeper fall.
Key Zone to Watch: If 3,220 holds, a short-term technical rebound may occur. But if it breaks, closely monitor price behavior near 3,160.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.