On Wednesday, gold appreciated slightly against the US Dollar. During today’s morning, the XAU/USD exchange rate traded at the 1,470.00 mark.
On the one hand, yellow metal could continue to appreciate against the Greenback within the following trading session. Note that the rate would have to surpass the 200-hour SMA and the monthly S1 at 1,475.18.
On the other hand, the exchange rate could reverse south in the nearest future. In this case the rate could gain support of the 55– and 100-hour SMAs, as well the Fibo 23.60% at 1,462.89.
