Gold has lost more than $25 from 6 year high $1411 made today on account of profit booking. The Fed rate cut hopes and escalation of geopolitical tension in the Middle East has increased demand for Safe-Haven assets and jumped more than $ 60 in the past two days.
Major support to be watched -$1377 (23.6% Fib) and any minor weakness only below that level. Any break below that level targets $1360-65 (Resistance turned into support).
Resistance -The yellow metal is facing strong resistance around $1412 and any break above targets $1428 /$1449.
Additional Levels
$1355- 5 day MA
$1347 Low made after Fed policy
$1339- Jun 18th low
$1332 - Jun 17th low
$1320 Jun 11th low
