The price of gold is starting to recover as the US dollar index resumes its recent bearish trend on the foreign exchange market. Technical analysis highlights that gold is trading within a falling price on numerous time frames and has recently bounced from the middle of the channel. Watch out for a coming technical test towards the top of the channel, around the $1,865 level.
XAUUSD is only bullish while trading above the $1,800 level, key resistance is found at the $1,865 and the $1,890.00 levels.
If XAUUSD trades below the $1,800 level, sellers may test the $1,780 and $1,760 support levels.
