The XAU/USD (Gold vs. USD) 1-hour chart shows a strong bullish structure within an upward channel, supported by higher highs and a recent ATH (All-Time High) retest.
Resistance Zone: $3,410 – $3,440 is acting as a significant supply area. Price may face selling pressure here.
Support Levels: First support lies near $3,300 (supply zone), followed by the $3,225–$3,250 demand zone.
Trend: The price is respecting the upward trendline, but a break below could trigger a retest of the green supply zone.
Bullish Scenario: A breakout and close above $3,440 could lead to a continuation toward $3,475+.
Bearish Scenario: Rejection from the resistance zone with a break below $3,300 could push price toward the $3,225 support.
Overall, gold is currently in a bullish trend, but needs to overcome the $3,440 barrier for further upside momentum.
Resistance Zone: $3,410 – $3,440 is acting as a significant supply area. Price may face selling pressure here.
Support Levels: First support lies near $3,300 (supply zone), followed by the $3,225–$3,250 demand zone.
Trend: The price is respecting the upward trendline, but a break below could trigger a retest of the green supply zone.
Bullish Scenario: A breakout and close above $3,440 could lead to a continuation toward $3,475+.
Bearish Scenario: Rejection from the resistance zone with a break below $3,300 could push price toward the $3,225 support.
Overall, gold is currently in a bullish trend, but needs to overcome the $3,440 barrier for further upside momentum.
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