Gold rebounded and will go up and down repeatedly in short-term

Market Reviews of the Previous Day:
During NY session on 5 July, the euro against the dollar moved within a narrow range oscillation around 1.45. The Asian session hit a 1.4577 level of nearly one-month high. As U.S. markets closed for public holiday, the overall foreign exchange trading was inactive. Market continued the previous technical trend and breakthroughs were not seen. There are still many uncertainties in the market. It focuses on the U.S. economic data and the monetary policy meeting of ECB.

July 4, international gold closed slightly higher. It fell in last week which attracted buying orders, and also hedging demand remained strong. International price eventually closed modestly higher, around USD 1,500.

Key Economic Data and Events:
GMT+8 12:30 RBA announces Interest Rate decision
GMT+8 15:55 Germany Tertiary PMI (June)
GMT+8 16:00 Eurozone Tertiary PMI (June)
GMT+8 16:30 UK Tertiary PMI (June)
GMT+8 17:00 Eurozone Retail Sales (May)
GMT+8 22:00 U.S. Factory Orders (May)
Gold:
Gold opened at 1485.80 USD on 4 July, with intra-day Low at 1485. 80 USD and intra-day High at 1596.64 USD, eventually closing at 1495.90 USD. Intra-day range of 10.84 USD was seen.

Gold rebounded on Friday, closed with a small bullish candle. The downward movement slowed down.

Observed from the daily chart, before breaking 1503 USD, gold will continue the downward oscillation in short-term. The further downside range will be located at 1472 and 1463.
Please remind that there were uncertainties and repetition in the market trend.
Before the change of gold's long-term uptrend, the whole pattern was in wide range oscillation.
Trading suggestions:
Short position from last week could be held appropriately with stop-loss at 1503 USD.