Although the pair managed to erase a small portion of its daily losses, it was last seen losing 0.75% on the day at $1,768.
The Relative Strength Index on the four-hour chart fell to 40, suggesting that buyers are struggling to retake control of the price.
The main change is that the Fed has noticed the progress on vaccinations and strong policy support, and that, in consequence, the economic outlook has improved.
Previously, the US central bank said that indicators of economic activity and employment “have turned up recently, although the sectors most adversely affected by the pandemic remain weak”, while now these indicators “have strengthened”, while “the sectors most adversely affected by the pandemic remain weak but have shown improvement”.
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The XAU/USD pair came under strong bearish pressure on Thursday and dropped to its lowest level in two weeks at $1,756.
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