The US dollar catching its breath offers billions some respite.
Gold is now hovering above May’s low at 1760, important support from the daily chart. Its breach could invalid the rally from late March.
The bullish RSI divergence indicates that the sell-off may have lost steam in this demand zone. A combination of profit-taking and fresh buying could help the metal recovered.
A confirmation would be close above the psychological level of 1800, which would then convince buyers to join in.
