On Wednesday, at 13:30 GMT, the US Dollar might react to the publication of the US Final GDP. Although, the only release for more than a year, which caused a noteworthy move was the latest one, September 30 2021.
On Thursday, at 13:30 GMT the US Durable Goods Orders and Core Durable Goods orders data will be published. However, during the prior months the data release has not caused increases of volatility.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the commodity price surges above the 1,800.00 mark, it could once again test the 1,815.00 level's resistance. Note that a move above 1,815.00 might result in the metal reaching the 1,830.00 level.
In the meantime, a decline of gold could find support in the 200-hour simple moving average at 1,786.00, before aiming at the December low levels near 1,755.00.
XAU/USD daily charts review
On the daily candle chart, the Federal Reserve announcement broke the resistance of the 50, 100 and 200-day simple moving averages and the October and November low level trend line. These levels were acting as resistance since November 31.Meanwhile, the daily candle chart can be used to more clearly explore previous high level zones at 1,830.00 and 1,880.00.
Daily Candle Chart
Traders are long
Since Monday, the sentiment on the Swiss Foreign Exchange was 55% bullish, as 55% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 52% to buy the precious metal.