Technical analysis:
Gold has been trading upside in the background but I found strong rejection of the important resistance at the price of 1.725, which is good ign for further downside rotation.
Trading recommendation:
Due to strong rejection of the key resistance at the price of $1.725, I see potential for the downside movement.
Watch for the selling opportunities on the intraday rallies with the downside objectives at the price of $1.709 and $1.690.
MACD oscillator is showing bear divergence, which is another sign for the further downside rotation.
Key short-term resistance is set at the price of $1.725
