XAU/USD analysis: Could go downwards
|XAU/USD
On Tuesday, the XAU/USD exchange rate touched the 1,910.00 level. During today's morning, the was testing the 55– and 100-hour SMAs near 1,930.00.
If the given resistance holds, it is likely that some downside potential could prevail in the market in the short term, and the price for gold could re-test the 1,910.00 mark.
If the predetermined resistance holds, it is likely that the exchange rate could try to exceed the 200-hour moving average near 1,947.00.
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