XAUUSD Breakout & Retest: Key Levels & Trade ScenariosGoldOANDA:XAUUSDWickmongerFollowing a breakout above the descending red trend channel, XAUUSD reached a high near 4,380 before pulling back to establish a clean higher low around 4,270–4,280. Price is currently testing immediate resistance at 4,334–4,340 (0.382 Fib retracement). Key Technical Levels Resistance: 4,340 (0.382 Fib), 4,368–4,380 (0.5 Fib & recent high), 4,405 (0.618 Fib) Support: 4,300 (0.236 Fib), 4,270–4,280 (Higher Low / Structural Demand) Trade Scenarios Bullish Continuation (Breakout): Look for a 4H candle close above 4,340 to confirm momentum toward 4,368–4,380, with extended targets at 4,405. Invalidated below 4,315. Long on Dip (Demand Retest): A controlled pullback into the 4,295–4,300 zone with lower-timeframe bullish rejection wicks offers a long entry back toward 4,340 and 4,380. Invalidated below 4,270. Bearish Short (Resistance Rejection): If price fails to clear 4,340–4,350 and forms heavy rejecti on wicks, expect a move back down toward 4,300 and 4,275. Invalidated above 4,360.