Dukascopy Bank Team
Dukascopy Bank SA
XAU/USD
Yesterday, the XAU/USD exchange rate declined to the psychological level at 1,800.00.
Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,830.50/1,865.30 range, it is likely that some downside potential could prevail in the market.
In the meantime, note that the exchange rate could gain support from the given psychological level. Thus, gold could trade sideways against the US Dollar 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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