Gold Price Forecast: XAU/USD remains under pressure near $4,550
In the four-hour chart, XAU/USD trades at $4,553.16, extending a bearish near-term bias as price holds beneath both the 100-period simple moving average (SMA) at $4,655.41 and the 200-period SMA at $4,699.41, as well as below the broader downward resistance trend line near $4,751. The Relative Strength Index (RSI) has slipped to oversold territory around 27, hinting that while downside pressure dominates for now, the pace of the recent slide could slow if sellers start to book profits. On the topside, initial resistance is seen at the 100-period SMA at $4,655.41, followed by the 200-period SMA at $4,699.41 and the descending trend-line region around $4,751, with higher hurdles aligning at the horizontal barriers around $4,890 and $5,044. On the downside, the first support comes at the descending trend line at $4,479. The next notable support sits at the horizontal level of $4,351, ahead of $4,306 and then $4,099, where buyers may attempt to stabilize the metal after the latest breakdown.









