On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD.
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
XAU/USD short-term forecast
A move below the 1,951.90/1,954.40 range might result in the metal's decline being almost being stopped by the 1,950.00 mark and the January high at 1,949.00. Further below, the 1,945.00 and 1,935.00 levels could stop a decline, as they have in late March.
Meanwhile, a potential recovery is expected to be slowed down by the February high at 1,960.00. The level recently acted as support and resistance, during Tuesday's early trading. A move above 1,960.00 could encounter resistance in the combination of the 50 and 100-hour simple moving average, before the price reached the 1,982.40/1,984.00 range.
XAU/USD daily charts review
On the daily candle chart, the decline has passed below the 50-day simple moving average near 1,990.00 and reached the support zone above 1,950.00.In regards to the future, note the approaching 100-day simple moving average near 1,940.00.
Daily Candle Chart
Gold traders go long
On Monday, gold traders were bullish, as 53% of open positions were long.
Meanwhile, pending trade orders in the 1000 point range around the current price were 70% to buy the metal.
By mid-Tuesday, 55% of positions was long and orders were 62% to buy.