The XAU/USD exchange rate has tumbled to the support provided by the 200-hour SMA near 1,830.00.
If the predetermined support holds, it is likely that yellow metal could appreciate against the US Dollar within the following trading session.
Meanwhile, note that the exchange rate could face the resistance area formed by the 55– and 100-hour SMAs, as well the Fibo 23.60% in the 1,850.00/1,860.59 range. If the given resistance holds, the price for gold could consolidate.
Written by Admin
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