GOLD Range-Bound Before Fed – Breakout Above 3349 Unlocks 3374GOLD | Bullish Momentum Builds Ahead of Fed Decision – Key Range Between 3349 and 3312
Fundamental Insight:
Gold is slightly higher as the U.S. dollar weakens ahead of the Fed’s rate decision. Markets await signals on future policy, which could drive sharp moves in gold.
Technical Outlook:
Gold remains bullish while above 3320, with upside potential toward 3349.
A 1H close above 3349 confirms breakout momentum, opening the path toward 3374, and potentially 3401.
A break below 3320, especially below 3312, would invalidate the bullish setup and trigger downside toward 3285, then 3256.
Currently range-bound between 3349 and 3312 — watch for breakout confirmation to determine the next trend direction.
Key Levels:
• Support: 3320 – 3285 – 3256
• Resistance: 3349, 3374 – 3401
Bias: Bullish above 3320
📍 Watch Fed volatility – breakout expected soon
