Watching XAUUSD at 2350 – A Key Retracement Level

Been spending a good part of the morning looking at $XAUUSD charts and a level that keeps sticking out to me is the 2350 area. From a purely technical perspective, we've seen a pretty aggressive move higher over the last few weeks, and it feels like a natural point for some kind of consolidation or deeper retracement. That 2350 mark is lining up pretty closely with the 38.2% Fibonacci retracement from the recent lows to the highs. It also coincides with a prior support/resistance flip zone that was tested a couple of times earlier this month before the most recent leg up.

My thinking is that a strong rejection around 2350, especially on higher timeframes like the daily, could signal that the upward momentum is still intact and that this is merely a healthy pullback before another potential push higher. However, if we see a sustained break below 2350, particularly if accompanied by increased volume, that would certainly invalidate this scenario for me. It would then open up the possibility of a move down towards the 50% retracement level, which is closer to 2320. Not saying it's a certainty, just what I'll be keeping an eye on for the next couple of days to gauge sentiment.