Welcome back, dear traders. Today, we bring you the technical analysis of the XAUUSD market. Let’s dive right into the analysis without further delay.

XAUUSD Market Technical Analysis | Fibonacci Factors in Resistance and Retracement:

📈 XAUUSD, on the H4 chart, recently challenged the critical resistance level at 2375, perfectly coinciding with the golden Fibonacci ratio. Concurrently, the RSI oscillator indicates a bearish divergence, amplifying the bearish outlook for Gold:

🔼 Should the price successfully surpass the 2375 resistance, the subsequent target lies at 2400; 🔽 Conversely, in the event of a corrective move, the price could retrace towards 2335, accompanied by the 38.3 Fibonacci retracement level.