The yellow metal is trading at 1077.00 ahead of the FOMC statement. As we forecast at today’s earlier article the metal re-tested the first resistance level seems at 1080.00 high made at 1078.20.

As shown in the below chart resistance zone remains between 1083.00 and 1089.00 levels

In the four chart, 200ma’s seems between 1083.00 and 1086.00 levels. Earlier parallel swing high resistance seems at 1089.00 levels above this 1098.00, 1100.00 and 1105.00 can be achievable easily. Initially, the bulls must breach 1080.00.

Flip side if the trend failed at supply zone the price highly likely to dip to 1058.00 and 1045.00 easily.

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