XAU/USD

Since Thursday, the XAU/USD exchange rate has been testing the resistance level—the monthly PP at 1,909.29.

It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,901.30/1,908.00 area. Thus, some upside potential could prevail in the market.

However, if the predetermined resistance holds, the rate could reverse south and re-test the psychological level at 1,890.00 in the short term.

XAUUSD

 

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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