Gold price found support near $1,770 and started an upside correction against the US Dollar. The price broke the $1,775 level to move into a short-term positive zone.
Besides, there was a break above a major bearish trend line with resistance near $1,776 on the hourly chart. It is now trading above the $1,780 level and the 50 hourly simple moving average.
It is now facing resistance near the $1,788 level. The next main resistance could be near the $1,794 level, above which the price could attempt a break above the $1,800 level. The next major barrier for the bulls could be $1,820 on FXOpen.
The first key support on the downside is near the $1,780 level. The next major support could be $1,772, below which there is a risk of more downsides. In the stated case, the price could test $1,755.
