XAUUSD

Fed Chairman Powell's statements have reduced expectations for a rate cut, leading to a flat trend in the gold ounce prices. The limited rise in the Dollar Index supports gold, but market participants are focusing on the retail sales and NY Fed Empire State manufacturing index that will be announced today. These data may influence the direction of gold prices.

Technically, gold ounce continues to move below the 2560 - 2580 region. The trend below these levels strengthens the possibility of a pullback towards the 2560 and 2550 support levels. The RSI indicator shows a neutral outlook at the 50 level. For upward movements to strengthen, prices need to move above the 2570 - 2580 resistance region, then test the 2590 and 2600 levels. A slight increase of 0.04% is observed compared to the previous day.