A quick look at gold on the 1-hour timeframe ahead of the Fed minutes later in the evening. Will the trend hold?

Taking a quick look at gold on the 1 hourly timeframe, we can see a rising trend along the ascending trendline. The price has been creating higher highs (orange ovals) as well as higher lows (green ovals). A new level of support may have been formed at $1,920 and then we saw an explosive candlestick that closed above the previous one. Currently trading at around $1,927 an ounce, but the commodity should be steady until further details from the Fed minutes later in the evening. The price might retrace lower to around $1,911-$1,912 and it shouldn’t climb above $1,930. It should remain rangebound between the price levels mentioned above. The technical indicators are currently mixed, with the MACD negative and the RSI just positive as it reads 54. The dollar is keeping prices in check, a hawkish stance from the Fed today would be perceived as a negative on for gold as it would strengthen the US dollar. A dovish stance would suggest the opposite.