Gold price found support near $1,820 and started a fresh increase against the US Dollar. The price was able to surpass the $1,830 and $1,850 resistance levels.
There was a break above the $1,860 level and a close above the 50 hourly simple moving average. The price traded as high as $1,868 and it is now consolidating gains. On the downside, an initial support is near the $1,858 level.
There is also a major bullish trend line forming with support near $1,855 on the hourly chart. The next key support is near the $1,850 level, below which the price could revisit $1,835 on FXOpen.
On the upside, an immediate resistance is near the $1,865 level. A clear break above the $1,865 resistance could push the price further higher. The next main resistance could be near the $1,880 level.
