FXStreet reports that strategists at Credit Suisse expect gold (XAU/USD) to grind lower towards $1691/77.
“We are mildly biased towards an eventual break lower, however only a move below $1691/77 would mark a major top for an important change of trend lower, with support then seen at $1620/15 initially, before $1565/60.”
“Only a break above $1834/39 would be seen to complete an in range base and lessen the topping threat significantly, instead of clearing the way for a deeper recovery to $1917.”