Gold price started a decent increase from the $1,820 zone against the US Dollar. The price moved above the $1,830 resistance zone to start a recovery wave.
The bulls even pushed the pair above the $1,835, a bearish trend line on the hourly chart, and the 50 hourly simple moving average. The price is now showing a few positive signs above the $1,840 level. An immediate resistance on the upside is near the $1,845 level.
The first major resistance is near $1,850 on FXOpen. The next main resistance could be near the $1,860 level, above which the price could start a steady increase towards the $1,880 level.
On the downside, an immediate support is near the $1,835 level. The next major support is near the $1,820 level, below which the price might decline towards the $1,800 support level in the near term.
