The growth of XAU/USD is supported by two key signals. The first is a rebound from the support line on the RSI, indicating upward potential. The second is a recovery from the lower boundary of the bullish channel, reinforcing the likelihood of price increases.
Gold prices may initially test the support area near $2735 before continuing their upward trajectory. A confirmed breakout above $2765 would signal a bullish move beyond the channel's upper boundary, with targets reaching $2795 or higher.
However, caution is warranted. A drop below $2705 would invalidate the growth scenario, pointing to a breakdown of key support and a potential decline toward $2665.
Traders should closely observe price movements around these levels to confirm the market's direction.