Dukascopy Bank Team
Dukascopy Bank SA
XAU/USD
During Monday morning hours, the XAU/USD exchange rate jumped to the 1,935.00 mark.
Given that yellow metal is trading far above the 55-, 100– and 200-hour SMAs, it is likely that the commodity is in the overbought area. Thus, some downside potential could prevail in the market.
In the meantime, note that there is no technical resistance for the XAU/USD rate. Thus, the price for gold could continue to raise within the following trading session.
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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