On Thursday, the XAU/USD exchange rate surpassed the 200-hour SMA and reached the psychological level at 1,282.00.
From a theoretical point of view, it is likely, that the rate trades upwards, as it is supported by the ascending trend line located in the 1,280.00/1,284.00 range. A possible upside target is the psychological level at 1,285.00.
In case, bears would prevail in the market, the price for gold could decline to the support level formed by a combination of the 55– and 100-hour SMAs located circa the 1,276.00 mark.
– advertisement –
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Stock futures are little changed ahead of key inflation readingStock futures were little changed in overnight trading Tuesday ahead of a key inflation reading.Futures ... Read More  From Estee Lauder to Apple, big companies say China’s Covid restrictions are hitting businessFactories in China affected by Covid lockdowns can conditionally resume work, by housing workers on-site ... Read More  Fears of a Fed mistake grow as this week’s anticipated interest rate hike loomsJerome Powell, Chairman of the U.S. Federal Reserve, attends the National Association of Business Economicseconomic ... Read More |
