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"There's a little bit of fatigue in there as well with the strong rally we've seen in the past few weeks, so it feels like a bit of profit taking going on sparked by the Fed comments," said strategist Daniel Hynes of ANZ in Sydney.

(FXStreet) Ahead in the day, the metal is likely to track movement in the USD index, which is now trading flat. Equity market sentiment too could have its say in determining price of the yellow metal.

The immediate hurdle is noted at $1257 (trend line resistance), above which prices could target $1270.93 (Mar 17 high) and $1283 (Mar 11 high). On the other hand, a break below 1240 (previous day’s low) would expose support at 1225.61 (Mar 15 low) and $1200 (psychological figure).

Reference : Reuters, FXStreet