US Dollar buyers stepped back into the fold during yesterday's NA trading session, bidding the greenback higher once again and sending Gold back towards its weekly lows below the $1220 level. The decline came on the back of the hawkish Fed meeting that hinted on a continuation of rate hikes next year supported by an impressive economy.
Gold prices broke to the downside as expected and are heading to retest the $1214.4 support level. The momentum is still in decline as we can see on the RSI chart putting more pressure on the yellow metal as it broke the $1220 level to the downside. The $1210 level is our main focus for the next 48 hours in case the price break below the $1215 level.
Support: 1180.6 1177.69
Resistance: 1184.86 1188.8