XAUUSD: Rejection at 4,350 Resistance Signals Further DownsideGold / U.S. DollarFOREXCOM:XAUUSDRatnerHello everyone, here is my breakdown of the current XAUUSD setup. Market Analysis XAUUSD previously traded within a well-defined upward channel, confirming a strong bullish structure during that phase. Price then broke down from the channel, signaling a loss of bullish momentum and a shift in market control. After the breakdown, Gold attempted to recover but was capped by a clearly defined Resistance Zone around 4,350, which previously acted as a key level during the range phase. Currently, price formed a lower high and transitioned into a downward channel, confirming bearish continuation. Multiple breakout attempts above descending resistance were rejected, reinforcing seller dominance. The market is now trading below the former resistance, with structure favoring further downside pressure. Below current price, a Support Zone near 4,280 is visible, acting as the next key area where buyers may attempt to slow the decline. My Scenario & Strategy My primary scenario: as long as XAUUSD remains below the 4,350 Resistance Zone and continues to respect the downward channel, the bearish bias remains valid. Any pullbacks into resistance that show rejection can be viewed as short opportunities, with downside continuation toward the 4,280 Support Zone as the primary target. However, a clean break and acceptance above resistance would invalidate the short scenario and suggest a potential shift back toward consolidation or recovery. Until then, structure favors sellers, with momentum aligned to the downside. That's the setup I'm tracking. Thank you for your attention, and always manage your risk.