Gold trades were lower on Tuesday with prices rushed to a minimum of one month. Meanwhile, market participants are passive before the announcement of the results of the two-day US Federal Reserve meeting.
The overall picture in the auction for gold remains bearish. Instrument XAU / USD traded in the flat, the price rose and declined in the range of 1323-1314. Resistance is located at 1330 support - at 1316.
MACD is in the negative zone. Histogram rose, indicating a weakening of the position of sellers. RSI Oscillator is in the neutral zone.
Technically, the hourly chart tool up and shot the 50 EMA and the 100 EMA, but failed to progress beyond the 200 EMA, from which price rebounded in the downward direction. Moving averages (50, 100 and 200) are moving down.
Gold forecast for today
It can be expected that prices will resume growth and the first target will be the level of 1330. We can not rule out the likelihood of a decline in the area in 1310.
Based on materials from Fort Financial Services