Gold price remained in a strong uptrend and it recently surged above $1,900 against the US Dollar. The price broke the last high and traded to a new all-time high above $1,940 on FXOpen.
It traded as high as $1,944 and it is currently consolidating gains. On the downside, the first support is seen near the $1,920 level and the 50% Fib retracement level of the recent rise from the $1,893 high to $1,944 high.
There is also a crucial bullish trend line in place with support at $1,912 on the hourly chart. Below the trend line, the 50 hourly simple moving average might act as a support near the $1,890 level.
Conversely, the price might continue to rise above the $1,840 and $1,845 resistance levels. In the mentioned case, the bulls are likely to aim a break above the $1,950 level.
