XAU/USD Analysis: reached 1,515.00 mark
|XAU/USD
During previous trading session, the price for gold jumped to the 1,515.00 level. During Monday morning, the XAU/USD rate was trading at the given level.
From a theoretical point of view, it is unlikely, that the exchange rate could maintain its advance due to resistance of the upper boundary of the short-term ascending channel at 1,522.00. It is expected, that a reversal south could occur soon.
However, if the given channel does not hold, yellow metal could continue to extend gains against the US Dollar. Important level to look out for is the psychological level at 1,525.00.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.