On the 4-hour chart, XAUUSD is currently in a strong support zone around 2,470 - 2,480, a level that has been tested multiple times in the past.
The downward trendline is acting as resistance, but there are signs of a potential breakout above this trendline.
The breakout target could reach 2,523, but it's important to note that the price may retest the support zone before moving higher.
If the price breaks above the resistance trendline, consider opening a buy position with a take profit target at 2,523.
At the moment, U.S. economic reports such as NFP data and FED speeches on interest rate policy are key factors directly impacting gold prices.