A potential catalyst for an upswing in XAU/USD rates could emerge through a trial of the support line on the relative strength index (RSI), coupled with a rebound from the lower boundary of the bullish channel. However, if Gold prices fail to rally on March 22, 2024, breaching the 2135 level, it could signal a breakdown in support, paving the way for a sustained decline towards the 2085 threshold.
Anticipate a surge in XAU/USD rates upon surpassing the resistance zone, with closing prices exceeding 2235. Conversely, should a correction ensue, expect a dip towards the 2170 level for a potential support test, followed by a resumption of the uptrend targeting levels above 2305.
A downturn in Gold's value, indicated by a breach of the 2135 mark, may trigger further selling pressure, potentially driving prices below 2085.