Gold eases up on the rallying from the previous month ahead of the U.S inflation data this week.

From a technical overview gold is currently trading at $1,670 ahead of the US inflation data this week. After plenty of rallying in the September month and a slight drop in the first week of October, over the last couple of days it has been fairly steady. Looking towards the upside, minor resistance level sits at $1,684 followed by further resistance at $1,700. A break above the $1,700 price level could result in more uptrend towards the major resistance at $1,735 (upper blue trendline). On the other hand, towards the downside if the inflation data is not appealing, minor support sits at $1,659 with further support level at $1,641. A break below $1,641 may result in a price dip towards the major support at $1,614 (lower blue trendline). RSI is currently suggesting a bearish approach as it reads 38, although MACD looks like it is turning positive.