XAUUSD Faces Resistance: Awaiting Breakout or Correction?

قبل ٤ أيام

XAUUSD is at a critical phase, moving within a downtrend channel after bouncing from the strong support level at 2,604, but now encountering key resistance at 2,646. This is a decisive level, and if the price breaks through, gold could start a strong rally, potentially reaching higher levels.

However, if it fails to break, a correction could push the price back to retest the previous support zone.

Investors are closely watching economic news from the U.S., especially the Federal Reserve's monetary policies, as these will play a crucial role in determining gold’s next direction.

The market is waiting for a clear breakout to confirm whether the current downtrend will end or if the accumulation phase will continue.