Has Gold Found Support?

Gold has made two lows on the same level for the past few hours at $1,111.95. We didn't witness a lot of volatility, except one attempt to break the resistance line by going to $1,119.46 and then back again to confirm the downward trend on Hourly chart.

If this channel proves to be correct it would mean that the breakout to $1,119.46 was fake and price would soon decline further to its first support at $1,111.95. After that, support rests at $1,104 and then $1,094. First resistance at current market price is $1,119.46, then comes $1,124 and third level of resistance is $1,135.

Chart: XAUUSD H1