Yesterday, the XAU/USD exchange rate touched the 1,870.00 level. During Tuesday morning, the rate was trading at 1,900.00.
From the one hand, it is likely that yellow metal could gain support from the 55– and 200-hour moving averages in the 1,885.00 area. In this case the price for gold could target the 1,910.00/1,920.00 range.
From the other hand, the exchange rate could remain under pressure of the 200-hour moving average near 1,900.00 and trade downwards within the following trading session.