Gold has been trading in a well-established trading range 641~648. The bearish pattern remained valid as gold closed below 648.

Today near term strong support level is 641 and resistance is 648. Short term support will be around 636~637 and resistance will be around 652~ 655.

Current trend is neutral at the time of analysis. Breaking below 640 would indicate a strong selling towards 636~632. Key levels to watch are 640~641 to downside and 648~649 to upside. As FOMC interest rate decision will be announced at 19:15 GMT, we will expect huge price swings around that time.

Good Luck!

Thanks for listening!

Gold Trader

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