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Today Technical Analysis: Gold falls below $4,700 as the US dollar showed renewed strength

April 23, 2026, 07:51

Gold falls below $4,700 as the US dollar showed renewed strength

Gold Technical Analysis

Gold is currently trading near $4,714 after extending its decline from the $4,833 high. Price remains below the moving averages MA10 $4,720 and MA20 $4,731, confirming short-term bearish momentum. Although the shorter moving average MA5 has started to turn up slightly, the rebound remains weak unless key resistance is reclaimed.

Immediate resistance is $4,720–4,731, followed by $4,750. Bulls need a break above these levels to stabilize sentiment. On the downside, support lies at $4,702, then $4,668. If $4,668 fails, sellers may target lower extension zones. Volume picked up during the selloff and has faded on the bounce, which usually signals that sellers still control the structure.

Gold 1H Chart

Gold 1H Chart 23-apr-2026
Resistance$4,750$4,800$4,860
Support$4,702$4,668$4,600

Bitcoin Technical Analysis

Bitcoin is trading near $78,200 after rejecting the recent high at $79,463. The broader short-term structure remains constructive, but momentum has cooled as price consolidates beneath resistance. The short term moving average MA5 has flattened, MA10 is near current price, while MA20 sits slightly above, showing a temporary pause after the rally.

The zone between $79,450–$79,500 is the immediate resistance level. A sustained break above it could reopen upside toward $80,463, then $81,900. On the downside, first support is $77,700, followed by $77,136 and stronger support near $76,500. Volume has eased during the pullback, suggesting correction for now.

Bias is slightly bullish while price is above $77,136. A breakout above $78,500 would strengthen bullish continuation.

Bitcoin 1H Chart

23-apr-2026
Resistance$79,500$80,463$81,900
Support$77,136$76,500$75,000

Nasdaq Technical Analysis

Nasdaq 100 is trading around 26,878 after pulling back from 27,016. Price remains above the moving average MA20, while MA5 has turned up and is crossing back toward MA10, indicating dip buyers are active. The broader trend is still upward, with higher highs and higher lows intact.

Immediate resistance is 26,900–26,985, followed by the recent top at 27,017. If bulls clear that level, the next upside extension could target 27,070. Support is found at 26,860, then 26,724, with stronger demand near 26,550. The recent decline appears corrective so far.

Bias is overall bullish above 26,860. Pullbacks into support zones may continue attracting buyers.

Nasdaq 1H Chart

Resistance26,98527,01727,070
Support26,86026,72426,550

Risk Disclaimer: This material is provided for informational purposes only and does not constitute a recommendation or investment advice. Trading financial instruments on margin involves substantial risk and may not be appropriate for all investors.

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