At the previous trading session, the XAU/USD exchange rate re-tested the 100-hour SMA near 1,800.00. During today’s morning, the rate was testing the 1,810.00 level.
It is likely that yellow metal could gain support from the 55-hour moving average near 1,805.00 and extend gains against the US Dollar in the short run. Note that the nearest resistance level is the monthly R1 at 1,821.43.
However, if the exchange rate fails to exceed the 1,810.00 mark, it is likely that the price for gold could trade sideways within the following trading session.
