The dollar's fall pushes up gold prices, and the meeting on interest rates is heavy

A brief analysis of the fundamentals:

On Monday (May 23), as the U.S. dollar index fell nearly 1% to a one-month low, spot gold was boosted up slightly and closed at $1,853.73 per ounce. At present, investors are worried about whether the Fed can guide the US economy to achieve a so-called soft landing. The risk of economic recession has formed a certain support for risk aversion. This week, we will focus on the performance of the minutes of the Fed meeting. The rhythm and clues of the breath.

Spot Gold XAU 4-hour chart

A brief technical analysis:

Looking at the 4-hour chart, the gold price rebounded slightly and then fluctuated within a narrow range. In the short-term, it stabilized, the moving average system was flat, 1840 became the watershed for long and short, the MACD red column increased, and the RSI indicator was flat.

Long and short turning point: 1840.00

Resistance: 1865.00 1890.00

Support: 1815.00 1790.00

Trading strategy: bullish above 1840.00, target 1865.00 1890.00

Alternative strategy: bearish below 1840.00, target 1815.00 1790.00