XAU/USD
During Monday morning hours, the XAU/USD exchange rate reversed south from the resistance formed by the 100– and 200-hour SMAs near 1,875.00.
It is likely that yellow metal could remain under pressure of the predetermined resistance and trade downwards within the following trading session.
On the other hand, the exchange rate could gain support from the 55-hour moving average near 1,887.00 and trade upwards in the short term. The price for gold could target the 1,890.00 mark.
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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