Higher dollar sends Gold lower but Gold rebounds after testing trendline support

The low price extended a little below that level to 1162.66 before rebounding back higher.

The correction off of the low, has taken the pair briefly above the 50% retracement of the days trading range.  This suggests, that at least at the low levels, the market has a little more balance between buyers and sellers.

If the dollar is able to keep it's bid and Greece gets off the front pages once again, that key trend line may come in play once again. Traders might look to focus on the 1170.54 level for close resistance. Another move above, might find some further short squaring before the weekend.