Technical analysis:
Gold has been trading downside yesterday and there was the breakout of the key support cluster at the price of $1.950. This morning we have testings of the broken support cluster.
In case of the rejection of the resistance at $1.950, we can see further downside movement towards $1.938
In case of the hold above resistance at $1.950, there is the chance for the rally towards $1.963.
Faster Stochastic oscillator is showing oversold condition and fresh bear cross, which is sign for the potential downside rotation.
