Since Wednesday, the XAU/USD exchange rate has been consolidating in the 1,810.00 area.
It is likely that yellow metal could gain support from the 55-hour SMA near 1,812.00. Thus, some upside potential could prevail in the market in the nearest future.
In the meantime, note that the exchange rate could face the resistance provided by the 100-hour SMA near 1,835.00. If the given resistance holds, a reversal south could follow.
