Gold price struggled on a few occasions to clear the $1,910 and $1,915 resistance levels against the US Dollar. The price traded as high as $1,913 and recently started a downside correction.
There was a break below the $1,905 support level and the 50 hourly simple moving average. It seems like the price is trading in a major contracting triangle with support near $1,900 on the hourly chart.
If there is a downside break below the triangle support, the price is likely to continue lower below $1,895 and $1,890. The next major support on the downside is near the $1,880 level.
Conversely, the price might start a fresh increase above $1,908 on FXOpen. However, the bulls need to gain traction above the triangle resistance, $1,910 and $1,915 to start a strong increase. The next major resistance is near the $1,925 level.
