XAUUSD — Bearish Retest in FocusGOLD (US$/OZ)TVC:GOLDSophie_LaneFundamental View Gold remains sensitive to changes in the US dollar, Treasury yields and interest-rate expectations. Renewed strength in yields could maintain short-term pressure, while softer macro conditions may support corrective rebounds. Technical View On the M30 chart, XAUUSD rebounded from the 4,020 area after RSI formed a bullish divergence near oversold territory. This momentum signal supported the current recovery toward the moving-average resistance structure. Price is now trading above the EMA 34 but remains below the EMA 89 around 4,067, suggesting that the rebound may still be corrective rather than a confirmed bullish reversal. The 4,068–4,080 zone combines horizontal supply with the slower moving average, making it the main reaction area. RSI has recovered toward 60, showing improved momentum, but it is not yet confirming a complete trend reversal. Key Levels Main resistance: 4,068–4,080 Near-term support: 4,040–4,050 Primary downside zone: 3,978–3,988 Deeper support: 3,950–3,960 Trading Scenario My primary view remains bearish while price stays below 4,068–4,080. A final push into this resistance area, followed by bearish rejection and weakening RSI momentum, could support another decline toward 4,040, followed by 3,978–3,988. The current rebound should therefore be treated as a corrective move unless price establishes sustained acceptance above the EMA 89 and the marked supply zone. Sell Condition Bearish confirmation from 4,068–4,080 would support the continuation scenario. A sustained M30 close above 4,080 would weaken my bearish view and suggest that buyers are regaining stronger short-term control. Overall View The RSI divergence successfully supported a rebound from the recent low, but price is now approaching an important moving-average and supply confluence. I remain cautious near resistance and would prefer confirmation before expecting the broader bearish move to resume. Do you expect XAUUSD to reject from 4,068–4,080 or break above this resistance first?