XAU/USD analysis: Remains below 200-hour SMA
|XAU/USD
Yesterday, the XAU/USD exchange rate touched the 1,870.00 level. During Tuesday morning, the rate was trading at 1,900.00.
From the one hand, it is likely that yellow metal could gain support from the 55– and 200-hour moving averages in the 1,885.00 area. In this case the price for gold could target the 1,910.00/1,920.00 range.
From the other hand, the exchange rate could remain under pressure of the 200-hour moving average near 1,900.00 and trade downwards within the following trading session.
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.