#XAUUSD @ 1,843.02 Gold Price Forecast: resumes its downtrend toward $1,825
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Gold price is resuming its downtrend below $1,850 in Wednesday’s trading so far. $1,825 remains in sight for XAU/USD bears, as FXStreet’s Dhwani Mehta notes.
“The next downside target is the falling trendline support at $1,838 should the previous day’s low give way. Further declines could challenge bullish commitments at the horizontal trendline support from the January 5 low at $1,825.”
“Recapturing the 50-Daily Moving Average resistance at $1,860 is critical for Gold bulls to initiate any meaningful recovery toward the $1,870 supply zone.”
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