Gold is still trading with a reasonable bid-tone around the $1,800 level despite the US dollar index continuing to strengthen broadly. Golds bulls need to clear the $1,815 level to encourage further buying interest towards the $1,830 resistance area. The four-hour time frame continues to show that a large inverted head and shoulders pattern with a $65.00 upside projection is in play.
XAUUSD is only bullish while trading above the $1,795 level, key resistance is found at the $1,815 and the $1,840 levels.
If XAUUSD trades below the $1,795 level, sellers may test the $1,780 and $1,770 support levels
