Gold went down before closing, and certain downward range appeared

Market Reviews of the Previous Day:
During NY session on 15 September, the Federal Reserve and other central banks joined the European Central Bank to launch a currency swap agreement. It will inject the dollar into the Europe bank industry which appeared funding crisis. Market confidence turned stable.
The dollar fell against major currencies, but the euro's rebound was not supported by the improvement of the real economy. Technically there was no symptom of upward movement.
European banking industry is deeply falling to the debt crisis. The central bank's action was just to give more time for Europe to solve the problem, and there was no real improvement in the crisis.
Some people think that this move of the European Central Bank was a temporary solution, and did not solve the Greek insolvency problem. It is predicted that policy makers have prepared for Greek default, and may be looking for more measures in the coming months.
The current foreign exchange market basically continued the main structure of the previous technical trend.
September 15, international gold closed lower. The world's major central banks provided dollar liquidity to maintain stability of financial market. The market risk aversion therefore dissipated rapidly. Gold had a certain sell-off.
Key Economic Data and Events:
GMT+8 16:00 Eurozone Current Account (July);
GMT+8 17:00 Eurozone Trade Balance (July);
GMT+8 21:00 US Long-term Net Capital Inflows (July);
GMT+8 21:55 US University of Michigan Consumer Confidence Index (September).
Gold:
Gold opened at 1820.03 USD on 15 September, with intra-day Low at 1773.63 USD and intra-day High at 1826.39 USD, eventually closing at 1789.21 USD. Intra-day range of 52.76 USD was seen.
Gold fell before closing on Thursday, breaking the low level 1790 USD from September 7 and the up moving trend line from July 1, 2011. The down moving range appeared.
The current resistance is at 1827 and 1844 USD, and the support is at 1718 and 1703.
Trading suggestions:
After downward breaking, the target theoretically is at 1718 and 1703. However, since the downward breakthrough of the up moving trend line before closing was not obvious, selling gold could lower the position.