XAUUSD: Bulls Opportunity for Recovery

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XAUUSD: Bulls Opportunity for RecoveryGoldOANDA:XAUUSDDomicChainaXAUUSD is trading around $4,408 following a strong rebound from the $4,290–$4,320 low zone. Prices are currently facing resistance at the EMA34–EMA89 cluster (around $4,443–$4,446) and a bearish trendline; therefore, I am not prioritizing chasing the current rally. A more compelling scenario involves a pullback to the $4,310–$4,370 support zone. If this area holds and fresh buying interest emerges, reclaiming the $4,445 level and the bearish trendline could pave the way for a rise toward $4,580–$4,620. Macro factors remain supportive of Gold: the USD stays relatively weak despite a strong US Non-Farm Payrolls (NFP) gain of 162K, while US-Iran tensions continue to drive safe-haven demand. With a US holiday today, liquidity may be low and volatility erratic. The bullish scenario would be invalidated if XAUUSD breaks decisively below $4,300.