XAU/USD analysis: Dropped to 1,860.00

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

During Thursday morning, the XAU/USD exchange rate declined to the 1,860.00 level.

Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,879.00/1,886.00 range, it is likely that some downside potential could continue to prevail in the market.

On the other hand, a reversal south could occur in the nearest future, and the price for gold could raise to the predetermined resistance range.

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Dukascopy Bank Team

Dukascopy Bank SA

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