XAU/USD analysis: Could increase in short run

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,810.00 area.

It is likely that yellow metal could gain support from the 55-hour SMA near 1,812.00. Thus, some upside potential could prevail in the market in the nearest future.

In the meantime, note that the exchange rate could face the resistance provided by the 100-hour SMA near 1,835.00. If the given resistance holds, a reversal south could follow.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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