Gold price is replicating the move seen during Tuesday’s Asian trading early Wednesday, as buyers hold their breath after the previous late rebound.
Gold price trades listlessly near $2,160 early Wednesday, eyeing the key Fed decision. US Dollar stalls its uptrend amid pre-Fed caution and a modest retreat in US Treasury yields. Gold price awaits a Bull Flag confirmation on the daily chart, as RSI stays bullish. Gold priceis replicating the move seen during Tuesday’s Asian trading early Wednesday, as buyers hold their breath after the previous late rebound.
00, suggesting that a fresh Gold price upswing could be in the offing. If Gold sellers fight back control, immediate support is seen at Monday’s low of $2,146, below which the falling trendline support at $2,132 will come to buyers’ rescue. A sustained move below that level will put the March 6 low of $2,125 to the test. Further down, the key round level of $2,110 will challenge bullish commitments.
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