XAU/USD anlaysis: Remains below moving averages

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

Yesterday, the XAU/USD exchange rate could reverse north from the 1,855.00 level.

Given that gold is pressured by the 55-, 100– and 200-hour moving averages in the 1,869.00/1,877.00 range, it is likely that some downside potential could prevail in the market.

In the meantime, if the given level holds, 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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