Gold bounces back as the US dollar retreats ahead of the Fed meeting later today.
The price has been treading water above 1790 as the bulls struggle to save the rebound. The dip below the psychological level of 1800 has shaken out weak hands.
The current consolidation is a sign of indecision ahead of a catalyst-driven breakout. 1824 is a major hurdle and its breach would heighten momentum and resume the stalled rally.
Below the support, the bears may push gold towards 1755 and threaten the rebound.
