Looking at XAUUSD’s chart, we can see that the precious metal is in a downward trend but found very good support at around $1700. Currently, it is traded at around $1707, and since the USD starts to weaken in the past few days, today we could expect it to rise towards its resistance level at around $1720 and if it will be able to pass it, then to continue rising towards its next resistance level at around $1745.

(Click on image to enlarge)

More By This Author:

USDJPY: Expected To Continue Its Correction
Johnson & Johnson: Expected To Test Its Resistance Level Once Again
EURGBP: Expected To Drop Towards Its Next Support Level At Around 0.8435