XAU/USD – Bulls Eyeing Breakout Toward 3,820 for OANDA:XAUUSD by CandleCraftFX3
Gold has shown resilience after repeatedly testing nearby support, carving out a clearly defined trading range. Buyers have stepped in around the 3,713 to 3,720 zone, establishing a sturdy base where demand tends to appear during pullbacks.
On the upside, the area around 3,780 has been probed multiple times. Each attempt to push higher has seen a rejection, with the rejections appearing less decisive over time, hinting that selling pressure is waning. A decisive breakout above 3,780 could unleash a more rapid and sustained rally.
Looking further up, a move beyond 3,780 could open the door to the 3,820 mark, a level that would likely attract additional demand if momentum remains constructive. A sustained break and close above this threshold would add to the bullish bias, potentially inviting acceleration toward higher levels. Conversely, failure to hold above 3,780 could lead to a retest of the base zone around 3,720 and possibly a deeper pullback into the lower end of the range.
