XAUUSD is expected to rise. An additional confirming signal will be a test of the bullish trend line on the relative strength indicator (RSI). A rebound from the lower border of the ascending channel is also anticipated.
A bearish price correction and test of the support area near 3075 is expected. A continuation of the growth of metal quotes with a target above 3215 is likely.
The scenario of rising gold prices will be invalidated if the price falls and breaks the 3045 level. This will indicate a continuation of the decline in gold prices with a potential target below the 2985 mark. An acceleration of the XAUUSD quotes fall is possible if the support area is broken and the price closes below the 3135 level.
The key date to watch is April 2, 2025. In case of a break of the 3045 level, which acts as strong support, a further fall towards 2985 is expected. A test and rebound from the lower border of the ascending channel and a test of the bullish trend line on the RSI indicate further growth with a target above 3215.
In the short term, we expect a test of the support area around 3075, followed by a continuation of growth. If the price falls below 3135, it will be a sign of an accelerated fall.