XAU/USD: the pair is under pressure of US stats

Current trend
Gold prices declined significantly as a result of Wednesday trading session. The pair is still under pressure of the growing likelihood of US monetary policy toughening before the end of this year. However, the trend in the decline of the dollar, which was established in the stock markets, holding back the further falling of pair.
Moderate support to the dollar on Wednesday was provided by good macroeconomic statistics from the US. In particular, traders optimistically met the data on business activity and the sales of new homes. In September, after a significant decline in August (–8.6%), sales of new homes in the country grew by 3.1%, reaching 0.593 million units. According to preliminary data for October, the index of business activity in the services sector by Markit rose from 52.3 to 54.8 points, while analysts do not expect any change at all.
On Thursday, October 27, markets expect the publication of important data on orders for durable goods in September. According to forecasts, statistics can provide additional support for the dollar, as the information on the dynamics of the orders for August was disappointing.
Support and resistance
Resistance: 1270.00 (the nearest level), 1274.27 (maximum of 20^th of October), 1276.84 (maximum of 5^th of October), 1282.01, 1289.57, 1300.00 (a strong psychological level).
Support: 1264.45 (low of 26^th of October), 1260.23 (minimum of 24^th of October), 1256.12, 1251.00, 1245.94 (minimum of 14^th of October), 1241.21 (minimum of 7^th of October).
The indicator "Bollinger Bands" on the daily chart is moving sideways. Price range isn’t expanding, delineating the boundaries of the short-term flat. It is recommended to stick to the channel trading strategy.
MACD indicator is growing, keeping a weak buy signal (the histogram is above the signal line). It is recommended to hold long positions, while to open new trades it’s better to wait for the additional signals.
"Stochastic" oscillator moves down, lying in the central zone. Current readings of the indicator evidence in favor of a downward correction later in the week.
Trading tips
To open a long position, you can rely on the reversal of the tool close to 1268.50, provided that evidence of technical indicators doesn’t contradict this. Take-profit – 1282.01 or 1289.57. Stop-loss – 1260.23/1256.12. Implementation period of 2-3 days.

A breakdown of 1264.45/00 may be a signal for further sales with the targets of 1251.00 or 1245.94. Stop-loss – 1270.00/1274.27. Implementation period of 2-3 days.