XAUUSD: Gold Rebounds but Remains Trapped Below ResistanceGoldOANDA:XAUUSDDomicChainaGold has staged a rebound from below the $4,000 level, but the recovery is still not strong enough to change the broader picture. What stands out is that instead of rallying directly toward major resistance, price has stalled around $4,030 — a sensitive area following the recent wave of selling. On the H4 chart, the primary trend remains bearish. Price is still trading below the EMA34 around $4,096 and the EMA89 near $4,207. This gap suggests that buyers have only managed a short-term reaction, while sellers continue to control the broader market structure. My preferred scenario is for XAUUSD to extend its rebound toward the $4,080–4,100 zone. If buying momentum fades there and rejection candles appear, gold could resume its decline toward $3,980, followed by the $3,940 area. What makes this setup interesting is that the current rebound is happening inside a broader downtrend. Unless price can reclaim the key resistance zone, the move is more likely to be a technical correction than the beginning of a sustained bullish reversal. Fundamentally, the outlook still favours the US Dollar. Markets remain focused on Fed policy expectations, while resilient US economic data continues to support higher Treasury yields, limiting the upside for non-yielding assets such as gold.