Since Friday, the XAU/USD exchange rate has been testing the 1,930.00 level.
If the given level holds, it is likely that some downside potential could prevail in the market. In this case the price for gold could decline to the support area formed by the 55-, 100– and 200-hour SMAs, as well the monthly PP in the 1,900.00/1,909.25 range.
On the other hand, yellow metal could gain support at the 1,920.00 mark. Thus, gold could trade sideways against the US Dollar within the following trading session.
