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Yesterday, the XAU/USD exchange rate continued to trade sideways in the 1,860.00/1,890.00 area.

Given that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,874.00/1,901.00 range, it is likely that some downside potential could prevail in the market in the short run.

On the other hand, if the predetermined area holds, yellow metal could continue to trade sideways against the US Dollar within the following trading session.

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