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Daily Technical Analysis: Gold Prices Drop Slightly After Nearing The $3,400 Level

Wednesday June 4 2025 06:54
Gold Prices Drop Slightly After Nearing The $3,400 Level

Gold prices are showing a pullback after recent highs at $3,391.7.

Moving averages MA(5) and MA(10) crossed below 30 MA which indicates early signs of bearish momentum.

MACD just crossed below signal line, histogram turning red, indicating bearish momentum picking up.

If gold prices fail to hold above $3,350, further downside could be expected.

Gold 1H Chart

Gold 1H Chart 04 June 2025
Resistance$3,363$3,372$3,378
Support$3,346$3,333$3,325

AUUSD shows a downtrend from the recent high of 0.6499 on the hourly chart  Moving averages M(5) and MA(10) show a bearish crossover indicating downward momentum.

MACD is below signal line with red histogram bars confirming the bearish momentum.

Bearish continuation is likely unless the pair finds support at around 0.6440–0.6450.

AUDUSD 1H Chart

AUDUSD 1H Chart 4 June 2025
Resistance0.64680.64800.6489
Support0.64460.64390.6431

EURUSD shows downtrend after a peak at 1.1453.

Short-term MAs (5 & 10) are below the 30-period MA  which indicates a bearish momentum

MACD line is below the signal line, also supporting bearish momentum with possible consolidation ahead.

The overall view of the pair is bearish, but short-term momentum is weakening. Watch for consolidation or a reversal signal on the hourly chart

EURUSD 1H Chart

EURUSD 1H Chart 4 June 2025
Resistance1.13941.14201.1455
Support1.13421.13051.1262
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