XAU/USD Analysis: Remains Below 1,915.00

On Monday, the XAU/USD exchange rate reversed south from the 1,915.00 level.

Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,905.00 area, it is likely that some downside potential could prevail in the market. The price for gold could target the 1,890.00 mark.

In the meantime, note that the exchange rate could gain support at 1,900.00. Thus, gold could trade sideways against the US Dollar within the following trading session.