GOLD → False breakdown and support from the falling DXY

XAUUSD , as part of a correction, confirms the upward trend line and returns to the consolidation (range), making a false breakdown of support amid the dollar's correction...



The US dollar remains stable thanks to the Fed's hawkish minutes and the court's decision to block Trump's tariffs. Investors are waiting for Friday's inflation data (PCE), which could weaken the dollar and give gold a chance to rebound. Additional influence will come from US GDP data, jobless claims, and geopolitical news.
On D1, gold is rebounding from strong support and heading towards resistance at the rising trend line. If economic risks remain high, gold could continue its rally despite conflicting bearish patterns...

Resistance levels: 3300, 3310, 3325
Support levels: 3290, 3285, 3265

Gold is forming a false breakdown of support at 3265 as part of a correction and confirming the lower boundary of the upward channel. Consolidation above 3280 will confirm that bulls are holding the market amid high economic risks. Gold may test 3300-3310 and form a correction before continuing its growth towards 3325.

Best regards, R. Linda!