The US dollar’s weakness continues to fuel the gold rush.
The precious metal has recouped most losses from the crash earlier this month. The rapid recovery indicates traders’ strong willingness to buy the dips.
The price is about to test the major supply zone between 1810 and 1830 from the daily chart. Analysts can expect stiff selling pressure as short-term buyers take profit.
A bullish breakout may jump-start the uptrend once again. As the RSI goes muted, 1785 is the first level to gauge the strength of the rebound.
