Gold softened after the US dollar regained strength post-FOMC. After the price gave up all the gains from its rally in early October, the latest rebound met stiff selling pressure near the support-turned-resistance 1670. A long bearish wick suggests a rejection of this level. As wrong-footed traders scramble for the exit, 1618 is key in keeping the precious metal afloat. Its break would signal a bearish continuation in the days to come. 1645 is a fresh obstacle where the bears could be looking to double down on the prevailing pessimism.
