The action today give the USD index a green light to go higher, don’t be surprised to see the Dollar index climbing higher for days, weeks and maybe several month.
As far as gold is concerned it is certainly possible that strengthening USD index will have less downside affect on the price of gold, but that remains to be seen.
For Fibonacci levels refer to the previous XAUUSD daily chart.
As always be cautious.
ZGM7 – CBOT June Gold Intraday (120 minutes) channel chart