XAUUSD at Key Resistance – Breakout or Rejection?

Gold is moving within the range at the moment and trying to break 3320. The price bounced from the higher low and is currently testing a key resistance zone around 3320. While the pair remains within the broader upward channel, early signs of rejection could trigger a pullback toward the support level. For bulls to maintain momentum, a clear breakout and hold above the descending trendline is essential. Failure to do so would confirm another lower high, increasing the likelihood of further downside.

Most Watchable areas:
$3320-3330 and $3293-$3305
Proper break above $3330 can open the door to $3360 and if it will be rejected from this area
then Sell will be triggered with target of 3230.

Note
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Gold has reached the key resistance zone of $3,330–$3,350, as noted in my earlier chart. It’s currently trading near $3,300 after retreating from a high of $3,345. The price is still holding above the crucial $3,300 support, indicating that bulls remain in control for now. However, a rejection from this level could lead to a pullback toward the $3,271–$3,286 support area. Traders are now focused on upcoming U.S. economic data, which may influence the next move.

SibiSh

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