XAU/USD analysis: Trades near 1,800.00

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.

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Dukascopy Bank Team

Dukascopy Bank SA

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