Gold (XAUUSD) - Support & Resistance before Big Event tonight
In Intraday chart, actually Gold Spot is testing 200 period SMA. As it's a descending candle, price-action says it may fall down to the below resistance levels marked here (upto 1716).
But we need to keep it in mind, in case USD weakens overnight due to Fed, then Gold will rally past these all levels and can potentially test again the 1730-32 level.
But we need to keep it in mind, in case USD weakens overnight due to Fed, then Gold will rally past these all levels and can potentially test again the 1730-32 level.
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