XAUUSD to see a fresh bull trend only above the $2,070/75 highs – Credit Suisse

Gold maintains a slight upward bias in its broader sideways range. A break past the $2,070/75 highs would resolve the range higher for a fresh bull trend, strategists at Credit Suisse report.

Break below $1,877 to reassert the broad sideways range

“Gold above $1,877 can maintain an immediate upward bias in the broader sideways range.”

“Only above the $2,070/75 highs though would be seen to resolve the range higher for a fresh bull trend, with resistance then seen at $2,280/2,300.”

“A break below $1,877 can further reassert the broad sideways range with support then seen next at $1,845/31.”