Gold keeps the high ground as the US dollar index remains subdued near an eight-week low. Price action is currently sideways as buyers are trying to accumulate momentum after the latest series of higher highs.
The RSI has cooled down from the overbought zone. The area around 1764 and the rising trendline (1770) is important support on an hourly basis.
A rebound could propel the precious metal back to 1815.
On the downside, however, a drop to 1744 may extend the consolidation by shaking out weak hands.
