Gold falls further on robust dollar and expectations for aggressive Fed on May 3/4 policy meeting

Spot gold accelerated lower, losing 1.9% in Asian and European trading on Monday, after directionless movements last Friday and Thursday.
Fresh weakness hit 2 ½ month low on break of supports at $1876/73 (100DMA / 50% retracement of $1676/$2070 upleg).
April’s marginal close below $1900 level generated negative signal, adding to negative structure, as the metal is pressured by robust dollar and expectations for aggressive Fed’s action in coming months, in attempts to put soaring inflation under control that sidelines gold’s appeal as a hedge against inflation.
Rising negative momentum and most of daily moving averages being in strong bearish configuration, add to weakening technical picture, although the yellow metal is mainly driven by a set of fundamental factors.
Bears look for close below $1873 Fibo level to open way towards pivotal levels at $1833/26 (200DMA / Fibo 61.8% of  $1676/$2070).
Break of these supports and round-figure $1800 level, would push the price into the lower side of larger $2074/$1676 consolidation range that would increase bearish pressure and make the downside more vulnerable.

Res: 1873; 1877; 1890; 1900
Sup: 1844; 1833; 1826; 1820