#XAUUSD @ 1,769.54 Gold price has sensed supply near the critical hurdle of $1,770.00. (Pivot Orderbook analysis)

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• Gold price has sensed supply near the critical hurdle of $1,770.00.
• Fresh evidence of a rebound in inflation has propelled US Dollar’s upside above 105.60.
• The Fed is expected to provide a higher peak for interest rates in its December monetary policy meeting.

The pair currently trades last at 1769.54.

The previous day high was 1780.95 while the previous day low was 1766.76. The daily 38.2% Fib levels comes at 1775.53, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1772.18, expected to provide resistance.

Gold price (XAU/USD) has sensed selling interest around the immediate hurdle of $1,770.00 in the Asian session. The precious metal is facing the heat as the US Dollar Index (DXY) has extended its upside journey above a four-day high at 105.60.

S&P500 futures are majorly lackluster after a sell-off consecutively for the second trading session, portraying a risk-averse approach from investors for the time being. Meanwhile, the 10-year US Treasury yields have recovered some of their losses and have reached 3.56%, at the press time.

Fresh evidence of a rebound in inflation from strength shown by the United States economy through services and labor demand in November has turned the market mood sour. This has triggered the risk of higher interest rate peak guidance by the Federal Reserve (Fed) in its monetary policy meeting next week.

But before that, five-year consumer inflation expectations have hogged the limelight. Long-term inflation expectations are still anchored as inflation has shown signs of a slowdown in the past. Earlier, the forward-inflation data landed at 3%.

On an hourly scale, Gold price has slipped below the upward-sloping trendline placed from November 3 low at $1,616.69. The precious metal is also playing with the 200-period Exponential Moving Average below $1,770.00, which indicates that the long-term trend is not solid anymore.

Also, the Relative Strength Index (RSI) (14) is looking to slip inside the bearish range of 20.00-40.00.

Technical Levels: Supports and Resistances

XAUUSD currently trading at 1769.24 at the time of writing. Pair opened at 1771.65 and is trading with a change of -0.14 % .

The pair is trading above its 20 Daily moving average @ 1760.17, above its 50 Daily moving average @ 1703.22 , above its 100 Daily moving average @ 1715.71 and below its 200 Daily moving average @ 1794.44

The previous day high was 1780.95 while the previous day low was 1766.76. The daily 38.2% Fib levels comes at 1775.53, expected to provide resistance. Similarly, the daily 61.8% fib level is at 1772.18, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 1765.29, 1758.93, 1751.1
• Pivot resistance is noted at 1779.48, 1787.31, 1793.67

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