The price of gold is coming under heavy selling pressure, following a major move higher in the value of the US dollar currency on the foreign exchange market. Technical analysis highlights the $1,730 and $1,710 levels as possible bearish targets for the yellow-metal. To the upside, the $1,800 level is now acting as former key technical support turned key resistance.
XAUUSD is only bullish while trading above the $1,800 level, key resistance is found at the $1,830 and the $1,850.00 levels.
If XAUUSD trades below the $1,800 level, sellers may test the $1,730 and $1,710 support levels.
