Gold Spot XAUUSD bounced from key support at 1,6800 and is now testing key resistance at 1,780. 1,780 was the key support for months but was broken by heavy selling in early June that took XAUUSD to test support at 1,680.
XAUUSD is also testing medium-term falling trend line. A close above both is likely to extend the bounce to a round 1,825-1,850.
However, on daily RSI is still below 60 threshold and if failing to close above i.e. RSI is rejected at 60 the down trend will resume for another test of 1,680 key support. Today and next couple of days will be decisive.