XAUUSD — Buy the Pullback Before BreakoutGoldOANDA:XAUUSDXAU_Macro_PulseFundamental Analysis Gold is holding firm ahead of today’s U.S. CPI release as geopolitical tensions and higher oil prices support safe-haven demand. July CPI is expected to rise 0.1% month-on-month and 3.4% year-on-year, so the release could sharply influence the USD, Treasury yields, and expectations for the Fed’s September decision. Technical Analysis On the H1 structure, XAUUSD is trading near 4,413 while approaching the 4,435.25 previous high. Price continues to respect the rising trendline, but buying directly below resistance offers limited value. The preferred pullback zone remains 4,350–4,380, where the Fibonacci 0.236 level, bullish OB, and trendline support converge. If buyers defend this area, gold could retest 4,435 and extend toward the marked breakout target around 4,450–4,470. Important Key Levels Current price: 4,413.36 Main buy zone: 4,350–4,380 Short-term support: 4,350.87 Short-term resistance: 4,435.25 Liquidity area: 4,435–4,450 Main target: 4,450–4,470 Invalidation: below 4,298.67 Trading Scenario Main Buy Setup Entry: 4,350–4,380 Stop Loss: 4,295 Take Profit 1: 4,435 Take Profit 2: 4,450 Take Profit 3: 4,460–4,470 Buy Condition Wait for a controlled retracement into the pullback zone and bullish confirmation. A long lower wick, bullish engulfing candle, failed breakdown, or H1 reclaim above 4,380 may confirm renewed buyer pressure. If price breaks and holds below 4,298.67, the bullish setup is no longer valid. Overall View The H1 bias remains bullish while XAUUSD respects the rising structure, but price is currently too close to 4,435 resistance to chase. The preferred plan is to wait for confirmation from 4,350–4,380 before targeting a breakout toward 4,450–4,470. CPI volatility may provide either the required pullback or the breakout catalyst. Do you expect gold to retest 4,350–4,380 before breaking 4,435?