XAU/USD Analysis: Depreciates to 1,275.00

Dukascopy Bank Team Dukascopy Bank SA

XAUUSD

During Wednesday morning hours, the yellow metal was resisted by the 200-hour simple moving average to push the gold to the 1,283.23 mark.

Most likely, the XAU/USD will be trading bellow the resistance level of the 200-hour simple moving average at the 1,275.00 level during the trading session.

However, the gold might appreciate against the US Dollar during today's US FOMC Meeting Minutes at 19:00 GMT to push the yellow metal to break through the resistance level. Watch out for the fundamental!

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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