Gold, Bitcoin, DXY, EUR/USD, AUD/USD, Oil Weekly Technical Outlook

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Gold is trading more than 15% off the monthly low following last month’s 21% decline with XAU/USD approaching resistance early in the week at the 61.8% retracement near 5141. Looking for a reaction off this mark IF reached. Monthly open support rests at 4894 and is backed by the 61.8% retracement of the February range at 4667. Key support / bullish invalidation remains with the 2025 high-day close (HDC) at 4500/33- losses below this threshold would be needed to suggest a more significant high is in place and a larger gold correction is underway. A topside breach above the median-line would expose the 100% extension of the monthly advance at 5343 and key resistance at 5520-5615- a region defined by the 2.618% extension of the broader December 2024 and the 1.618% extension of the August rally. A close above this zone would be needed to mark resumption of the broader uptrend toward 6K. Bottom line: The gold recovery is now approaching initial resistance hurdles after last month’s assault. From a trading standpoint, losses would need to be limited to 4894 IF price is heading higher on this stretch with a close above 5141 required to fuel the next leg of he recovery. That said, the broader risk remains for a deeper correction on the heels of this most recent washout and strength beyond 5343 is ultimately needed to suggest a more significant low is in place and put the bulls firmly in control.