On Thursday, the XAU/USD exchange rate extended gains gradually. During today’s morning, the rate was testing the 55-hour SMA near 1,869.00.
If the given resistance holds, it is likely that some downside potential could prevail in the market within the following trading session.
Meanwhile, note that the exchange rate could gain support from the monthly S1 at 1,862.47. In this case the price for gold could try to exceed the 100-hour SMA near 1,890.40.
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