Yesterday, the XAU/USD exchange rate reversed north from the monthly PP at 1,907.07. During Thursday morning, the rate was testing the 200-hour SMA near 1,950.00.
It is likely that yellow metal could gain support from the 55– and 100-hour SMAs circa 1,933.00. Thus, it is likely that some upside potential could prevail in the market.
However, if the given resistance holds, it is likely that gold could trade sideways against the Greenback within the following trading session.
