XAUUSD Long: Channel Breakout Could Drive Price Higher To 4,450$

Hello traders! Here’s my technical outlook based on the current XAUUSD (2H) chart structure. XAUUSD previously traded inside an ascending channel before breaking higher and later forming a descending channel. Price then tested the Supply Zone near 4,450, where sellers rejected the upside before pulling back toward demand.

Currently, XAUUSD is trading below the 4,450 Supply Zone while holding above the 4,310 Demand Zone. The recent bounce from support suggests buyers are preparing for another move higher.

As long as XAUUSD remains above 4,310 and respects the current support structure, the bullish scenario remains valid. A continuation higher could target 4,450 (TP1). However, a break below 4,310 would weaken the bullish outlook. Manage your risk!

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