Following a strong breakout, XAUUSD is holding firm above the uptrend line and continuing to form higher lows, indicating that buying pressure remains in control of the market. The area around 4,070 currently serves as key support; coinciding with the level just surpassed, it is likely to attract buying interest should a pullback occur.

On the macroeconomic front, the US dollar remains under pressure as the market anticipates potential Fed policy easing if US economic data continues to weaken. Additionally, cooling US bond yields are providing further momentum for capital flows into gold.

I favor a scenario involving a brief pullback to retest the 4,070 level before the upward momentum extends toward 4,180. As long as this support holds and confirmation signals—such as a bearish rejection candle or a resurgence of buying pressure—emerge, the bullish outlook remains positive.

Conversely, if the price breaks and closes decisively below the 4,070 level, the short-term bullish structure will weaken, requiring a reassessment of the scenario targeting 4,180.