Gold dips as the US dollar strengthens ahead of this week’s FOMC.
The price has once again met strong selling pressure at the psychological level of 1900. The fall below 1870 then 1855 may have intensified the momentum as buyers rushed to get out.
A bearish MA cross suggests an acceleration to the downside. The RSI has recovered from an oversold condition and 1844 may be temporary support.
1820 would be the next target in case of another round of sell-off. A rebound is likely to see selling interest around 1884.
