Gold price found support near $1,760 and started a fresh increase against the US Dollar. The price was able to surpass the $1,780 and $1,788 resistance levels.
There was a break above the $1,800 level and a close above the 50 hourly simple moving average. The price traded as high as $1,820 and it is now consolidating gains. On the downside, an initial support is near the $1,815 level.
There is also a major bullish trend line forming with support near $1,808 on the hourly chart. The next key support is near the $1,788 level and the 50 hourly simple moving average, below which the price could revisit $1,760 on FXOpen.
On the upside, an immediate resistance is near the $1,820 level. A clear break above the $1,820 resistance could push the price further higher. The next main resistance could be near the $1,845 level.
