Wall Street erases part of early gains. US Dollar Index stays in the positive territory near 97.50. Since breaking below $1220 on Tuesday, the XAU/USD pair is struggling to find its next short-term direction. As of writing, the pair was virtually unchanged on the day near $1215. Although the improved market sentiment and a stronger greenback dragged the pair down to $1211 area in the early NA session, the pair’s losses stayed limited as Wall Street’s failure to push higher following a positive start to the day suggests that investors are not yet eager to move away from safer assets like the precious metal. Nonetheless, ahead of FOMC Chairman Powell speech, all three major equity indexes in the U.S. stay in the positive territory and a fresh buying wave in the second half of the session could weigh on gold. On the other hand, on the back of the upbeat GDP data from the United States, the US Dollar Index touched its highest level in two weeks above the 97.50 mark. However, a technical correction pulled the index back below that level and helped the pair retrace its drop. At the moment, the DXY is up 0.08% on the day at 97.45. US:  Real GDP growth  in Q3 (second estimate) stays unchanged at 3.5% as expected. US:  International trade deficit  rose to $77.2 billion in October from $76.3 billion in September. Technical levels to consider The initial resistance for the pair aligns at $1218 (50-DMA) ahead of $1228 (Nov. 26 high) and $1237 (Nov. 1 high). On the downside, supports are located at $1211 (daily low), $1206 (Nov. 9 low) and $1200 (psychological level). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: Bulls pawing the grounds of the 114 handle ahead of Powell, getting set to charge FX Street 4 years Wall Street erases part of early gains. US Dollar Index stays in the positive territory near 97.50. Since breaking below $1220 on Tuesday, the XAU/USD pair is struggling to find its next short-term direction. As of writing, the pair was virtually unchanged on the day near $1215. Although the improved market sentiment and a stronger greenback dragged the pair down to $1211 area in the early NA session, the pair's losses stayed limited as Wall Street's failure to push higher following a positive start to the day suggests that investors are not yet eager to move away from safer assets… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.