XAUUSD is testing key resistance at 2380-2390

Personally, I think $XAUUSD has been moving below the key resistance in the 2380-2390 range for a while now, after we saw clear selling pressure last week. To break through this level, there needs to be a strong enough catalyst; otherwise, there's a high chance of seeing the price retest support at 2350 or 2330 again.

The point that would invalidate this scenario for me is a sustained break above 2400, which would indicate a return of momentum. But if it remains stuck in this range, we need to be cautious of volatility and may see continued base building.