Gold Movement
For the 24 hours to 23:00 GMT, Gold rose 0.48% against the USD and closed at 1126.30, extending its previous session gains, after the US Federal Reserve kept interest rate unchanged, as expected and gave no clue on its rate increasing path ahead.
In the Asian session, at GMT0400, the pair is trading at 1122.2, with the gold trading 0.36% lower from yesterday’s close.
The pair is expected to find support at 1115.37, and a fall through could take it to the next support level of 1108.53. The pair is expected to find its first resistance at 1128.87, and a rise through could take it to the next resistance level of 1135.53.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
