XAUUSD Weekly Forecast | 29th May 2023

29 thg 5, 2023

Fundamental Backdrop

• The key takeaways of last week's FOMC meeting show that the FEDs agreed on the need for more rate hikes after May's meeting was 'less certain'. We will likely be seeing strength in the USD.
  
• We could see investors shift their money from GOLD to USD instead, weakening it.
  

Technical Confluences

• Near-term resistance level at 1948
  
• Next support at 1904
  

Idea
Price could head towards the next major key support level at 1904.






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