XAUUSD – Bears tighten control below key resistanceXAUUSD is facing clear pressure as both technical and fundamental factors are not favoring the bulls. On the H4 chart, price remains within an ascending channel but has repeatedly failed to break through the 3,372 – 3,409 USD resistance zone. The support trendline from the August low is still holding, yet the weak recovery suggests that a break below 3,333 USD could trigger stronger selling pressure, potentially pushing the price down to 3,310 USD or lower.
From a fundamental perspective, U.S. Core Retail Sales came in at 0.3%, below the 0.5% forecast — typically a supportive signal for gold. However, with UoM Consumer Sentiment rising to 61.9 and inflation expectations at 4.5%, the market leans toward the Fed maintaining higher interest rates for longer, which supports the USD and limits gold’s upside.
At the moment, sellers maintain the upper hand and will likely remain in control if strong rejection signals appear near resistance. Only a decisive break above 3,409 USD could invalidate the short-term bearish outlook.
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