XAU/USD anlaysis: Pressured by 100– and 200-hour SMAs

Dukascopy Bank Team Dukascopy Bank SA

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.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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