Gold Price Analysis: XAU/USD fades pullback moves to keep familiar range near $1,900

• Gold remains mildly offered despite keeping the recovery from Thursday’s low flashed earlier in Asia.
• Three-week-old ascending trend line restricts immediate downside.
• 200-bar SMA, monthly resistance line probe the bulls.

Gold prices stay sluggish around $1,901 while heading into Tuesday’s European session. In doing so, the yellow metal respects the pullback from a short-term support line while also staying below short-term resistances, namely the 200-bar SMA and a falling trend line from September 16.

With the MACD suggesting no clear direction, traders will prefer waiting for a clear break of either $1,918, comprising the resistance line, or a downside break of the support line figures near $1,894.

However, the $1,900 threshold and 200-bar SMA level of $1,913 can work as filters during the quote’s further moves.

Additionally, the bullion’s run-up past-$1,918 will challenge the monthly high of $1,933 ahead of probing the mid-September peak surrounding $1,973.

On the contrary, gold bears’ dominance below $1,894 will have multiple supports around $1,890 and $1,880/75 before directing the precious metal towards the September 28 low of $1,848.82.

Gold four-hour chart

Trend: Sideways