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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

 

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