Over the past few weeks, XAU/USD has been consolidating sideways, fluctuating within a defined support and resistance range. In terms of price structure, the price of gold has just broken above the $4,220 resistance level. We anticipate that the upward trend will continue following a successful retest of this level.

Should further bullish signals emerge, we will initiate new long positions, targeting $4,320 as the next potential upside objective.

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