11 Dec 2019
Gold Price Analysis: XAU/USD challenges the 1472 resistance ahead of the FOMC
- Gold is testing the 1472 resistance and the four-hour 200 SMA.
- Investors will be watching the FOMC closely at 19:00 GMT and the press conference at 19:30 GMT.
Gold daily chart
Gold is consolidating above four-month lows below the 50/100 SMAs but above the 200 SMA. The FOMC at 19:00 GMT and the press conference at 19:30 GMT can lead to high volatility.
Gold four-hour chart
XAU/USD is challenging the 1472 resistance level and the 200 SMA on the four-hour chart. A daily close above this level can lead to further gains towards the 1480/85 resistance zone. On the flip side, if the bears break the 1465 support level, the market can weaken towards the 1455/50 support zone.
Additional key levels