XAUUSD H6 View

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XAUUSD H6 ViewXAU/USD SpotFX:XAUUSDGOLDFXCCGold at a Critical Technical Crossroad - Gold continues to trade in a tight consolidation range while holding above short term support near the 10 day moving average. However, price remains trapped below a key resistance zone formed by the 50 day and 100 day moving averages, keeping the market at a pivotal turning point. - The recent bearish crossover of the 50 day below the 100 day moving average signals that downside pressure still dominates. Unless buyers reclaim this week’s high near $4,774 and break above the 100 day average around $4,792, gold could remain vulnerable to another corrective move lower. - A break below $4,638 would confirm renewed weakness and could open the door for a decline back toward the rising 200 day moving average, which previously acted as major support. On the upside, a sustained recovery above the 100 day average would strengthen bullish momentum and expose higher targets near $4,891 and potentially above $5,000.