Having broken out of its consolidation zone, XAUUSD is maintaining a clear bullish structure, characterized by a series of higher lows. This indicates that buying pressure remains dominant and there are no significant signs of a market reversal.

On the macroeconomic front, the US dollar remains under pressure amid expectations that the Federal Reserve will continue to loosen monetary policy should US economic data weaken. Declining bond yields and demand for safe-haven assets are also providing a positive backdrop for gold prices.

In my view, the 4,070 level is a key area to watch should a pullback occur. As long as the price holds above this support zone and buy signals re-emerge, there is a strong likelihood that XAUUSD will extend its upward momentum toward 4,170.