XAUUSD price is extending its three-day bearish momentum on Friday, following Thursday’s sharp reversal from near the $1,850 level. The buying interest around the United States Dollar (USD) remains unabated amid hawkish US Federal Reserve (Fed) expectations. XAUUSD price is once again challenging the bullish commitments below the falling trendline support-turned-resistance at $1,836. The bright metal is gearing strength for a sustained break below the horizontal trendline support from the January 5 low at $1,825. Daily closing below the latter is needed to extend the downtrend toward the $1,800 threshold. The 14-day Relative Strength Index (RSI) points south, approaching the oversold territory, keeping the bearish bets alive and kicking. On the flip side, XAUUSD bulls need to find a strong foothold back above the descending trendline support-turned-resistance. The previous day’s high at $1,845 will be next on buyers’ radars on their way to the $1,850 psychological level. Further up, the critical 50-Daily Moving Average (DMA) at $1,862 will be a tough nut to crack for XAUUSD optimists.
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