Despite having bounced strongly from the 1617 support level, Gold consolidates along the 1680 price level. As the price consolidates and fails to break higher, this signals the potential for a reversal.
A reversal in Gold could also be driven by a recovery in the strength of the DXY.
Look for the price to break below 1660 to indicate a downside potential, with the key support level at 1617.
Alternatively, if Gold trades higher to break above 1685, Gold could continue trading higher toward the next resistance level of 1725.
A reversal in Gold could also be driven by a recovery in the strength of the DXY.
Look for the price to break below 1660 to indicate a downside potential, with the key support level at 1617.
Alternatively, if Gold trades higher to break above 1685, Gold could continue trading higher toward the next resistance level of 1725.
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