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Gold slips below $4,420 as EUR/USD falls under 1.1450

XAU/USD remains above the $4,250 support zone but faces resistance near the 100 and 200 four-hour simple moving averages around $4,360 to $4,415, while EUR/USD trades below 1.1420 with further downside possible.

Reported · Written up by our desk · Major Pairs

Gold weakened against the US dollar, failing to hold gains after dipping below $4,420 and slipping from a recent attempt to break above $4,450. The 4-hour XAU/USD chart shows price action struggling under the 100 simple moving average near $4,360 and the 200 simple moving average near $4,415, while the metal remains above a $4,250 support zone, according to Action Forex.

On the upside, Action Forex flagged resistance around $4,360 and $4,415, including a bearish trend line. A close above $4,360 could lift prices toward the 61.8% Fibonacci retracement level near $4,405, while a stronger move above $4,415 could open the door toward $4,500.

For downside scenarios, the outlet said a fresh decline could retest $4,250, with further support markers at $4,220 and $4,200, and a larger floor at $4,000.

In a separate currency move, Action Forex said EUR/USD lost momentum and moved lower, with bears pushing the pair below 1.1420 and aiming for additional losses. The same analysis noted EUR/USD had fallen below 1.1450 earlier.

Latest closeGold $4,323.20 ▼1.2%|EUR/USD 1.138 ▼0.6%

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