Yesterday, the XAU/USD exchange rate tumbled to the 1,860.00 level. During Tuesday morning, the rate reversed north.
Given that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,901.50/1,921.50 area, it is likely that some downside potential could prevail in the market in the short term.
On the other hand, bulls could prevail in the market, and the exchange rate could try to exceed the predetermined resistance area within the following trading session.
