Gold Forecast Battle lines well mapped for XAUUSD ahead

• Gold price tests the higher levels once again amid steady USD, Treasury yields.
  
• Gold traders remain cautious of the critical US inflation data, Fed minutes.
  
• Gold on the back foot as NFP fails to alter taper prospects.
  

Immediate upside is capped at $1762, which is the convergence of the Bollinger Band one-hour Upper and the previous day’s high.
The next significant topside hurdle is seen at $1765, where the Fibonacci 38.2% one-month aligns.
The Fibonacci 61.8% one-week at $1767 will then challenge the bearish commitments.
Gold bulls need to find acceptance above the pivot point one-day R3 at $1771 to initiate a meaningful uptrend.