There is no market mover data today. Tomorrow economic calendar got some high volatile news. ECB Main Refinancing Rate expected unchanged.
Monetary Policy Statement expected more stimulates. And the press conference would be the main market mover how Draghi handles it. Anything hawkish for ECB
should be good for gold if something dovish gold must test to 1280 again.
on the other hand, USA cpi and core cpi both are expected positive than before. but last earning data was poor, we should keep in mind it.
The descending channel would be the 1st resistance at 1307. if 1307 breaks next destination should be at 1.1322 is daily pivot area. Market expect some correction form 1322. if 1322 breaks and stable next target 1347 last final target 1365
on the other hand , immediate support is at 1276 area. if 1276 breaks and stable final target