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XAU/USD: Set to test $ 1180, FOMC looms

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The XAU/USD pair (gold prices in terms of the US dollar) halted a four-day losing streak and rebounded on Tuesday, finally ending the day in the green above 5-DMA at 1166.38. The bullion once again found fresh bids above 1160 levels and climbed as high as 1168.84 after the USD bulls took a back seat following the release of dismal US economic data. The latest data showed a drop in the US corporate spending and consumer confidence, adding to the recent streak of downbeat US fundamentals and

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