ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD has difficulty in finding demand
A few days to go before the critical July meeting of the Federal Open Market Committee (FOMC), a 75 basis point rate hike looks almost certain in the financial markets, while gold is struggling to find a permanent demand. As the determinant of the descending channel movement of the commodity in the technical outlook, as long as 1732 level indicated by the 50-period simple moving average is defended as a resistance above, the risk of pricing falling to 1690 below 1705 will be the case. Above 1732, on the other side, 1746 resistance will be followed.
