ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD is likely to decline
The highest inflation of the last 40 years in the USA and expectations for a 25 bps rate hike and hawkish tone of communication by the FOMC lead to downward movements in Gold.
In addition, strong performance of the US 10Y Treasuries and 4th round of negotiations between Russian and Ukrainian delegates support them. Technically, Gold put an end to the ascending major channel and if it breaks 1917 support, it will decline towards 1900. On the other side, 1950 and 1968 resistance levels will be on our radar.
