After a false break of support and reaching the year's low just above $2,000, Gold has returned to its familiar range and has remained there for the past 10 days. However, at this juncture, the 2015 zone is providing a robust support base, prompting bullish investors to buy into dips. I anticipate a forthcoming breach of the 2040 resistance zone, with my target set at the beginning of the year's price, which stood above 2080. In the interim, resistance is noted at 2060, which could also serve as a target for shorter-term traders.
📊QUICK FUNDAMENTAL LOOK
Gold is trading steadily in the early morning Asian session, but may weaken ahead of the FOMC's two-day meeting that begins later today. Gold's strength may diminish this week, says Fawad Razaqzada, market analyst at City Index and FOREX.com
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