Yesterday, the XAU/USD exchange rate reversed south from the resistance level formed by the monthly PP at 1,909.25.
Given that yellow metal is pressured by the 55– and 200-hour SMAs in the 1,902.00 area, it is likely that some downside potential could prevail in the market.
Meanwhile, note that the rate could gain support from the 1,890.00. Thus, the price for gold could trade sideways within the following trading session.
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