• Gold breaks major support $1150 and declined till $1134 yesterday after Fed hikes interest rates by 25bpbs.
   
• U.S Fed hiked Federal funds rate from 50bpbs to 75bpbs. Fed said it may increase interest rates three times in 2017 on account of strong Labor market. Gold is trading weak and is currently trading around $1141.70.
   
• Technically Gold is facing resistance at $1165 (10- day MA) and any break above will take the pair till $1173 (61.8%retracement of $1197 and $1134.70)/$1177. The yellow metal should close above 21- day MA ($1182) for further jump till $1188 (Dec 4th 2016 low)/$1197.
   
• On the lower side any close below $1130 will take the bullion further down till $1116 (78.6% retracement of $1046 and $1375)/$1100.
  
  It is good to sell on rallies around $1165-68 with SL around $1177 for the TP of $1150/$1142.