Core Support for BullsGold vs US DollarPEPPERSTONE:XAUUSDLiamJohnson📈 **Core Support for Bulls** 📊 **Technical Analysis: Oversold Rebound + V-Shaped Reversal Confirmation** Gold prices rebounded strongly after bottoming out, closing with a long lower shadow, confirming effective support at the 4600 level. The 4-hour MACD golden cross and RSI rising to 55 indicate ample bullish momentum; the 1-hour chart shows prices stabilizing above the Bollinger Band middle line, with moving averages in a bullish alignment, indicating a strengthening short-term trend. 💵 **Fund Inflow + Institutional Buying** SPDR ETF saw a single-day increase of 3.43 tons, with a net inflow of $680 million from major funds, reflecting a confluence of short covering and bargain hunting. Previous selling pressure above 4700 has been largely absorbed, and selling pressure below 4650 has weakened, reducing resistance to further bullish moves. 🏦 **Marginal Improvement in Interest Rate Cut Expectations + Weakening USD and Treasuries** The US March ISM Non-Manufacturing PMI significantly missed expectations, indicating a slowdown in the service sector, prompting the market to repric the interest rate cut path. The USD and Treasury yields have fallen from their highs, highlighting gold's relative price advantage and increasing the attractiveness of non-interest-bearing assets.