XAU/USD (a 4-hour chart)
Gold prices are under pressure, near the 2 week lows as investors will be focused on the upcoming U.S statistics to evaluate the possibilities of an eventual Fed rate-hike.
The pair remained under pressure. Bears kept control over the market. Sellers were able to push the price lower the mark 1316 dollar per ounce. Gold futures remained below the 50, 100 and 200 EMAs which act as a resistance for the price. The 4 hours chart shows that the 50-EMA crossed the 100 and 200 EMAs downwards. The moving averages keep heading lower. The resistance is at 1316, the support comes in at 1300 dollar per ounce.
MACD remained at the same level which confirms the strength of sellers. RSI is approaching the oversold territory.
The XAU/USD pair will mostly depend on the