For the 24 hours to 23:00 GMT, Gold rose 0.06% against the USD and closed at USD1558.50 per ounce, ahead of the interest rate decision by global central banks.
In the Asian session, at GMT0400, the pair is trading at 1557.70, with gold trading 0.05% lower against the USD from yesterday’s close.
The pair is expected to find support at 1550.90, and a fall through could take it to the next support level of 1544.10. The pair is expected to find its first resistance at 1563.90, and a rise through could take it to the next resistance level of 1570.10.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.