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Spot Gold Under Pressure after Hawkish Fed but Downside is Still Limited by Rising 20SMA

Spot Gold price eased on Thursday, pressured by hawkish comments from Fed which improved the outlook and boosted hopes for further rate hikes this year. The price returned below 10SMA (1342) after recovery attempts were repeatedly capped at $1347 zone, but remains within $1332/47 congestion which extends into third day and showing no clear near-term direction while the price holds in this range. Rising 20SMA ($1334) reinforces support and so far keeps the downside protected. Daily MA’s are still in bullish setup but descending RSI/Momentum continue to warn of further easing. Sustained break below $1334/30 support zone (20SMA/pullback low/Fibo 61.8% of $1308/1365 upleg) is needed to generate stronger bearish signal for deeper correction of $1236/$1366, 12 Dec/25 Jan rally) which would expose targets at $1324 (18 Jan trough) and $1316 (Fibo 38.2% of $1236/$1366 rally) in extension. Bullish scenario requires firm break above $1347 congestion top to neutralize immediate downside risk.

Res: 1347; 1350; 1353; 1357
Sup: 1337; 1334; 1332; 1330

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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