Still within the 1D Rectangle. Second attempt to break lower.

XAUUSD continued the sideways trade last week on the 1D Rectangle (RSI = 48.914, CCI = -7.0876, Highs/Lows = 0.0000) with a 1,212.48 High and a 1,187.83 Low. Despite all the bearish news reports for the USD last week, the DXY managed to find support on 4H around 94.40 and rebounded to 95.00 again. USDCNY remains on a Channel Up, both very bearish parameters for Gold. We expect another attempt to form a Channel Down on 4H (already on RSI = 44.185, Highs/Lows = -3.8429) this week aiming at breaking the 1,180.50 1D support, which is our first TP and 1,172.20 in extension.