Weakness in the US dollar continues to fuel demand for billions. Gold has been inching up along the 30-hour moving average. Bullish sentiment takes a foothold after a series of higher highs.
The price action is now testing a key resistance level at 1874 from the daily timeframe. Combined with an overextended RSI, the supply pressure could prompt short-term traders to cash in. 1844 would be the first support in case of a correction.
On the upside, a bullish breakout may send the price to the psychological level of 1900.
