XAU/USD
Spot Gold remains at the back foot as a corrective pullback off fresh high at $1,433 broke below the psychological 1400 support, which would currently cap near-term price action along with descending 55 DMA. With a negative tone prevailing on near-term studies, the downside risk remains in play as the fall so far retraced 38.2% of 1272/1433 rally on a dip to $1,372. This notion is supported by daily studies that start to point lower, and by an extension below $1,372 expected to open the $1,353 higher platform, and 50% retracement of 1272/1433. Only a sustained break above the 1400 barrier would ease immediate bear-pressure.
Reistance: 1394; 1400; 1410; 1416
Support: 1387; 1372; 1368; 1353