XAU/USD Eyes Breakout Above 4,175 – Bullish Continuation or Temporary Pullback?
Gold remains in a strong short-term uptrend on the 1-hour chart, supported by higher highs and higher lows above the key moving averages. After a sharp rally from the 3,980 area, price successfully broke through multiple resistance levels and is now consolidating just below the 4,175 resistance zone.
The chart highlights a potential bullish continuation pattern. As long as price holds above the support area around 4,160–4,165 (red dashed line), buyers remain in control. A minor pullback into this zone could provide fresh buying interest before another attempt to break above 4,175 (black dashed resistance).
If bulls manage to secure a clean breakout above 4,175, the next upside targets could extend toward the 4,190–4,210 region. However, failure to hold the highlighted support may trigger a deeper correction before the uptrend resumes.
Overall, the market structure remains bullish, with traders watching for either a support retest and bounce or a direct breakout above resistance to confirm the next leg higher.