As the DXY found a steady climb to the upside, Gold reversed from the 1800 resistance level to trade significantly lower to find strong support at the 1720 price level.
Gold first rebounded at the 1730 level to restest the 50% fib and price level of 1765 before trading lower again.
Currently, as the price rebounds from the support of 1720, look for Gold to retest the 61.8% fib level and 1750 price level before a continuation of the downtrend.
If Gold breaks below the immediate support level of 1720, the next support level is at 1710, and a key support level at 1680.
Gold first rebounded at the 1730 level to restest the 50% fib and price level of 1765 before trading lower again.
Currently, as the price rebounds from the support of 1720, look for Gold to retest the 61.8% fib level and 1750 price level before a continuation of the downtrend.
If Gold breaks below the immediate support level of 1720, the next support level is at 1710, and a key support level at 1680.
