A key signal for a decline in XAUUSD is a test of the RSI resistance line. Another signal is a bounce off the upper edge of the bullish channel.
Key Levels to Watch:
- Support Break: If XAUUSD falls below 2715, it would confirm a breakout of the lower bullish channel, signaling further decline.
- Resistance Test: A test of the 2790 resistance area might occur before a drop toward the 2655 target.
- Cancellation of Decline: A strong rise above 2845 would invalidate the bearish outlook, potentially driving prices beyond 2905.
Stay alert for movement near these critical price zones as they may shape the next trend.