XAU/USD analysis: Is above 1,910.00

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

The XAU/USD exchange rate has raised to the psychological level at 1,920.00.

On the one hand, it is likely that yellow metal could continue to appreciate against the US Dollar within the following trading session. In this case the rate could target the 1,930.00 mark.

On the other hand, it is likely that the exchange rate could reverse south in the short run. Note that the rate could gain support from the 55-, 100– and 200-hour SMAs, as well the monthly PP in the 1,905.00 area.

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Dukascopy Bank Team

Dukascopy Bank SA

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