XAUUSD Testing Falling Channel

Gold continues to press against the top of a large falling price channel, with bulls and bears still battling for control around the top of this important partner. Gold could rally towards the $1,810 area if bulls are able to move the price above the $1,780 resistance level. Failure to move the price above the channel and the yellow-metal could get sold back towards the $1,755 price zone.

XAUUSD is only bullish while trading above the $1,755 level, key resistance is found at the $1,780 and the $1,810 levels. If XAUUSD trades below the $1,755 level, sellers may test the $1,735 and $1,720 support levels.

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