FX.co ★ Technical review for XAU/USD: growth may resume

Gold previously corrected down amid fears of aggressive rate hike from the Fed. But today's inflation data in the UK, as well as the expectation of its slowdown in the eurozone, support gold prices, albeit limited.

technical picture:

The quote is currently below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is moving up, similar to the stochastic indicator, which is turning away from the oversold zone.

Possible dynamics:

An increase above 1810.00 is likely to lead to a local growth to 1835.00.