Possible trend reversal on gold

Gold has fallen 0.60% so far during today’s session and it is continuing with the bearish correction that started on January 27^th. Gold and the US Dollar usually have a negative correlation, which means that when the Dollar rises, gold falls. Lately, the Dollar has been in an uptrend and that has put some pressure on gold prices. If the FED stays in course to rising interest rates that could give the Dollar a push and gold could continue falling. On the daily chart of gold we can see that the commodity is accelerating its drop below the 200 day EMA, around the 1232 level and according to the MACD indicator, it is possible that the trend has reversed to the downside. If the bars of the histogram on the MACD continue getting bigger and the price of gold breaks below the 1200 level, then we could say that the precious metal has changed its trend to the downside. On the other hand, it is possible for the 1200 level to act as a support in case the price falls to that zone.