Gold's buying pressures are very strong. The pair is holding above former support at 1358 while hourly support is given at 1338 (05/07/2016 low). Expected to further increase.
In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).