XAU/USD Trades Above 1,810.00

Since Monday, the XAU/USD exchange rate has been appreciating actively. The rate has already reached 1,830.00.

It is likely that yellow metal could gain support from the 200-hour moving average near 1,820.00. In this case the price for gold could target the resistance level—the Fibo 23.60% at 1,860.59.

In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below 1,975.00 due to the support provided by the 55– and 100-hour SMAs.