XAU/USD analysis: Remains below 1,875.00

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

As apparent on the chart, the XAU/USD exchange rate failed to surpass the 1,875.00 level.

It is likely gold could gain support from the 100– and 200-hour moving averages near 1,850.00 and trade upwards in the short term. In this case the price for gold could target the psychological level at 1,890.00.

However, if the 1,875.00 mark hold, the yellow metal could trade sideways against the US Dollar within the following trading session.

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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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