Technical analysis:
Gold has been trading downside this morning and I found the rejection of the Fibonacci confluence at the price of $1.845.
Due to the rejection of the Fibonacci confluence in the background and the fresh crosses on the MACD and Stochastic, I see potential for the further downside movement towards lower references.
Downside objectives are set at $1.805 and $1.780
Stochastic and MACD oscillators are showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $1.845
