12.05.202214:53 Forex Analysis & Reviews: Technical review for XAU/USD: price could decline again

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Gold is under pressure because the latest report on US inflation is likely to force the Fed to keep on increasing interest rates aggressively, which supports dollar.

Technical picture:

The quote is currently below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is also below 50% and is declining.

Possible dynamics:

Dipping below 1846.70 will prompt a further fall to 1830.80.

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