Daily Analysis of XAU/USD



-Gold remains under pressure after failing to sustain a rebound from the $4,638 range.

-U.S. CPI data stronger than expected reinforces expectations for a more hawkish Federal Reserve.

-Rising inflation has increased market prices for potential Fed interest rate hikes later this year.

-Higher U.S. Treasury yields continue to support the U.S. Dollar and weigh on non-yielding Gold.

-High oil prices and ongoing U.S.-Iran tensions add to global inflation concerns.

-MACD remains slightly positive, indicating limited bearish momentum.

-RSI stays just below 50, indicating neutral to weak momentum conditions.

-Current price action leans more toward consolidation rather than strong directional movement.

-Bulls need a sustained breakout above the resistance area of $4,770 to confirm a new upward momentum.

-Immediate support is near the 200-hour SMA around $4,655.

-A break below this support could trigger deeper corrective downside pressure toward the previous swing low.
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