Yesterday, the market responded weakly to the zone. We did not see a strong bullish move, which means that bulls are not ready to buy at current prices. I think the XAUUSD is going to pullback toward the bottom of the range zone. Since we have upcoming news today, there is a chance that the price may roll back. As you can see, the key resistance at 2400 is the holding price, and the market bounced off it a couple of times. Basically, I expect the price to continue moving sideways within the previous week's range zone. Right now, the price is no man's land. My goal is resistance at 2395 from the support level.
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Gold prices rose on Thursday on a weaker U.S. dollar and as investors sought a safe-haven on fears the Middle East conflict could widen, dampening headwinds from the prospect of fewer U.S. rate cuts this year.
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