XAUUSD — Sellers Still Have the Upper HandGoldOANDA:XAUUSDParadise_NoirHello traders, XAUUSD is currently at a sensitive point, with both the technical structure and macro backdrop giving sellers the short-term advantage. From a fundamental perspective, expectations that the Fed will maintain a tighter monetary policy stance continue to weigh on gold. The U.S. dollar remains supported in this environment, while the prospect of higher interest rates increases the opportunity cost of holding non-yielding assets. Although safe-haven demand remains present, the U.S. dollar and interest-rate expectations are currently two notable headwinds for XAUUSD. Looking at the H4 chart, the structure is fairly clear: gold continues to form lower highs, while the descending trendline has repeatedly capped recovery attempts. Price is currently trading around 4,285 and remains below the Ichimoku Cloud, with 4,322 standing out as the nearest key resistance area. My preferred scenario is not necessarily for gold to fall immediately. Price could still rebound and retest the resistance above, but if buyers fail to break through, I expect selling pressure to return. The downside levels to watch are 4,235 first, followed by 4,200, which aligns with the strong support zone on the chart. 👉 In summary, as long as XAUUSD remains below the descending trendline and the Ichimoku Cloud, I continue to favor SELLING the rallies rather than chasing BUY positions. Buyers would need a convincing breakout from the current structure before I reconsider this bearish view.