XAUUSD: The US CPI Implications

XAUUSD, H4

XAUUSD is navigating within an ascending channel and has just rebounded from the 2410 resistance level after a robust rise on a US CPI report. The RSI and MFI oscillators indicate overbought conditions, suggesting potential bearish momentum.

• If the price breaks above the 2410 level, it could lead to a rise to the 2440 resistance.
• If the price fall to the 2390 and golden Fibonacci ratio, it may rebound to 2410 or breaches below to 2365;