XAUUSD Gold vs US Dollar XAU/USD: Bearish Continuation — Target 4300 Following Potential 4550 Support Bounce
The XAUUSD daily chart indicates a broader bearish correction after breaking below the critical psychological level of 5000.00 , which has now flipped from support to heavy resistance. Based on the projected trajectory, the price is expected to pull back to test the immediate support zone at 4550.00 in the near term. A subsequent bounce from this level could lead to a temporary relief rally, retesting the 5000.00 resistance and potentially forming a lower high. Ultimately, if sellers aggressively defend this upper barrier, the resulting rejection could trigger a deeper downward continuation targeting the next major support block at 4300.00 .
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