XAU/USD: Bearish Momentum Continues – Targeting Downside Support

Market Overview and Fundamental Drivers

The XAU/USD pair is currently trading at 2909.44, exhibiting a clear bearish trend with a 24-hour change of -10.56 (-0.36%). The daily range has seen prices fluctuate between 2893.61 and 2925.28, indicating a struggle for bulls to maintain any significant upward momentum. From a fundamental perspective, recent hawkish rhetoric from major central banks, particularly the Federal Reserve, combined with a strengthening US Dollar