Gold price struggled below the $1,895 and $1,885 resistance levels against the US Dollar. The price broke the $1,865 support level and extended its decline.
The price traded as low as $1,852 before starting an upside correction. There was a break above the $1,865 level and the 50 hourly simple moving average. There is also a key connecting bullish trend line forming with support near $1,869 on the hourly chart.
If there is a downside break below the trend line, $1,865, and the 50 hourly simple moving average, there could be a fresh decline towards the $1,850 support on FXOpen.
On the upside, there is a major hurdle forming near the $1,880 and $1,885 levels. A clear break above the $1,885 resistance level could lead the price towards the $1,895 and $1,900 resistance levels in the near term.
