Gold is on the decline on Tuesday, with the yellow-metal slipping towards the $1,720 support zone after the recent failure above the March swing-high. Lower time frame analysis shows that negative price divergence has nearly been completely reversed. It is likely that gold will either bounce sharply from current levels or face further losses back towards the $1,710 level.
XAUUSD is only bullish while trading above the $1,730 level, key resistance is found at the $1,755 and the $1,800 levels.
If XAUUSD trades below the $1,730 level, sellers may test the $1,710 and $1,677 support levels.
