XAUUSD – Gold Price Analysis for August 11, 2025: Buying Opportunity from Key Support Zone
In today’s session, gold (XAUUSD) on the H1 timeframe is pulling back after breaking the short-term support zone at 3,376 – 3,378 and moving down towards 3,356 – 3,358 – which aligns with the 0.618 Fibonacci retracement of the previous bullish swing. This is a key support area where buyers may step in if the market reacts positively.
1. Technical Analysis
EMA: Price is trading below the short-term EMA, showing sellers in control, but the gap is small, leaving room for a potential rebound.
Fibonacci: The 0.618 level around 3,356 acts as a technical pivot and strong support.
RSI: Approaching oversold territory, signaling a possible technical bounce.
Trendline: Price is testing the medium-term ascending trendline from late July. Holding this level would strengthen the bullish outlook.
2. Key Price Levels
Near-term Resistance: 3,376 – 3,378
Major Resistance: 3,383 – 3,384 and 3,393 – 3,395
Near-term Support: 3,356 – 3,358
Major Support: 3,340
3. Trading Strategies
Primary Scenario: Buy around 3,356 – 3,358, stop loss below 3,348, take profit at 3,376 – 3,378, extended targets at 3,383 – 3,393.
Alternative Scenario: If price breaks below 3,348 with strong volume, consider selling towards 3,340 – 3,328.
Today’s bias remains buying at support – taking profit at resistance. Traders should closely monitor price action at these levels to optimize entries.
Follow for more actionable gold trading strategies in the upcoming sessions.
