XAUUSD Downside Push

FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is in a sharp downtrend and has started a correction phase and bouncing between SR levels.

As you see in the chart, there is a resistance zone around 1812-1815, which has pushed the price to the downside and price failed to close above this level.

Moreover, price has made a lower high after being rejected by the resistance zone .

On the other hand, there is a support zone around 1780, which has been retested by price for several times.

If price breaks the support zone and closes a bearish confirmation candle below this area, we can expect more drop for XAUUSD to 1771, and 1761

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