H1 Bearish Pullback From Trendline ResistanceGoldOANDA:XAUUSDXAU_Macro_Pulse Fundamental Analysis Gold is trading in a mixed macro environment. September CPI and PPI were hotter than expected, with PPI rising 1.3% MoM, while retail sales increased 0.8% in September. These figures keep inflation pressure elevated and leave the Fed facing a difficult policy balance. However, the USD and Treasury yields have recently weakened as markets reduced expectations for an October rate hike. Fed Chair Kevin Warsh also avoided giving a clear signal on the October decision, while risk-off flows linked to AI-sector debt concerns have supported Treasuries and gold. Reuters Technical Analysis On the H1 chart, Gold remains structurally bullish after the earlier CHoCH and BOS shifted momentum higher. Price then continued upward along the ascending trendline and reached the 4,185–4,190 area. However, the latest candles show rejection from this upper trendline. This creates room for a corrective move before the next directional decision. The key area is 4,160–4,166, marked as resistance on the chart. If sellers push price back below this zone, the pullback could extend toward the 4,125–4,133 first support. The broader ascending structure remains valid while price holds above the deeper support areas. Important Key Levels - 4,185–4,190: H1 trendline resistance / recent high - 4,160–4,166: Key resistance-retest zone - 4,125–4,133: First support / downside target - 4,085–4,095: Second support - 4,074: Major demand / structural support Trading Scenario The main scenario is a bearish H1 pullback from the 4,185–4,190 resistance area. If Gold fails to reclaim the upper trendline and sellers regain control below 4,160–4,166, the move could continue toward 4,125–4,133. A clean break of the first support would expose the deeper 4,085–4,095 area. Sell Condition The bearish setup becomes stronger if price rejects 4,185–4,190 and confirms an H1 close below 4,160–4,166. A sustained move back above the upper trendline would weaken this bearish scenario. Overall View The H1 structure is still recovering, but price is now testing a major trendline resistance area. The current setup favors a corrective move first, with 4,160–4,166 acting as the key confirmation zone. The reaction there should determine whether Gold continues higher or expands the pullback toward 4,125–4,133. Do you think the 4,160–4,166 retest will hold as support, or could H1 sellers push Gold toward 4,125–4,133?