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XAU/USD Price Forecast – Holding important level of $1915

XAU/USD Price Forecast – Holding important level of $1915

XAU/USD Price Forecast Holding Important Level of $1915

XAU/USD Price Forecast Holding Important Level of $1915 ( GOLD ).It is hovering tight range between $1945-$1915 . It is not sustaining at higher level and came down. The hawkish Fed minutes unraveled the world’s most powerful central bank’s plans. It is  to pare the balance sheet and deliver a 50-basis points (bps) rate hike at its May meeting. The Fed’s aggressive stance is worrying investors, as it could cripple the economic growth while the Fed combats soaring inflation. Gold’s hourly technical shows that the price is eyeing a sharp drop towards the rising trendline support at $1,915. (RSI) is looking south below the midline, justifying the bias to the downside. If the above mentioned support of $1915 breached, then a test of the $1,900 /$1890 mark remains inevitable. On the upside, immediate confluence resistance is seen around $1,930, where the 21 and 50- Moving Averages close in.

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