FX.co ★ king.zelda | XAU/USD, GOLD

Against the backdrop of the overall strengthening of the dollar in the market, the price of GOLD is under selling pressure. We broke through the support level at 4550 and dropped to the level of 4507. Now we have managed to recover back. We are now waiting for the Fed meeting and the market's reaction to this event. If sellers manage to break through the current demand zone and drop below 4500, then we risk falling towards the support level of 4350. In case of a resumption of growth from current levels, I consider a move towards the resistance at 4660 possible. It will be difficult to climb higher. Overall, I do not expect significant movement tonight. Most likely, the market will continue to wait for news on the Middle East, only then we will see significant movement.