Dukascopy Bank Team
Dukascopy Bank SA
XAU/USD
Since Thursday, the XAU/USD exchange rate has been trading sideways around the monthly S1 at 1,862.47.
Given that yellow metal is pressured by the 55– and 100-hour moving averages in the 1,870.00 area, it is likely that some downside potential could prevail in the market.
In the meantime, it is likely that the exchange rate could gain support at 1,850.00. If the given support holds, the rate could maintain its consolidation in the short term.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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