A key factor supporting the potential rise in XAUUSD prices is the test of the bullish trend line on the Relative Strength Index (RSI). An additional signal is the rebound from the lower boundary of the ascending channel.
- A bearish price correction and test of the support area near 3080 are expected.
- Continuation of the precious metal quotes growth with a target above 3215 is likely.
- An acceleration of the XAUUSD quotes fall is expected if the support level is broken and the price closes below 3165.
The scenario of gold price rise will be invalidated if the price falls and the 3045 level is breached. This will indicate a break of the support area and a continuation of the asset price fall to the area below the 2975 level.
- Invalidation of gold price rise: asset value fall and break of the 3045 level.
- Continuation of the gold price decline with a potential target below 2975.
- Analysis date: April 3, 2025.
- Analysis time: not specified.