Gold Price Analysis: XAU/USD continues to be caught between main DMAs in front of Fed week

Gold (XAU/USD) resumed the bearish momentum of its following a quick recovery from multi-month lows sub-1dolar1 1800 in the last week.

The sellers returned following the metallic faced rejection at the 50 daily shifting typical (DMA), now at $1875.

On Wednesday, gold fell pretty much as one % to near the $1825 region and spent the remainder of the week meandering close to the latter, using the upside tries capped by the 21 DMA of $1841.

Gold Price Chart: Daily

XAU/USD’s day chart definitely shows that the cost goes on to oscillate in a determined range. Acceptance above the 50 DMA is important to reviving the recovery momentum from four month troughs of $1765.

Meanwhile, the 200-DMA support during $1809 is the level to get over for the bears. The 14-day Relative Strength Index (RSI) settled the week during 47.01, keeping the chances for additional downside alive.

In addition, a failure to give a weekly closing above the essential short term hurdle of 21 DMA, also suggests that more declines may just be in the offing.

Nonetheless, the Fed’s finalized monetary policy decision of this year and a probable US fiscal stimulus deal can have a significant influence on the gold price activity inside the week ahead.

Gold Additional levels
XAU/USD
OVERVIEW
These days previous price 1839.34
Now Daily Change 0.00
Today Daily Change % 0.00
Now every day open 1839.34

TRENDS
Day SMA20 1838.62
Everyday SMA50 1874.97
Everyday SMA100 1910.26
Day SMA200 1809.34

LEVELS
Earlier Daily High 1847.78
Earlier Daily Low 1824.16
Previous Weekly High 1875.34
Earlier Weekly Low 1822.22
Previous Monthly High 1965.58
Earlier Monthly Low 1764.6
Day Fibonacci 38.2% 1838.76
Daily Fibonacci 61.8% 1833.18
Day Pivot Point S1 1826.41
Everyday Pivot Point S2 1813.47
Daily Pivot Point S3 1802.79
Day Pivot Point R1 1850.03
Daily Pivot Point R2 1860.71
Everyday Pivot Point R3 1873.65