Since Friday, the yellow metal has traded almost sideways in limbo around the hourly simple moving averages, which all met at the middle of Friday.
On Tuesday morning, the metal’s price was located just above the hourly simple moving averages, as it approached the 1,430.00 level.
In general, the metal should test the resistance of round psychological resistance levels as the 1,430.00 and 1,435.00 level.
On the other hand, the rate could fluctuate sideways until the US FOMC announcements at 18:00 GMT on Wednesday.
