Yesterday, the XAU/USD exchange rate reversed north from the 1,825.00 level.
It is likely that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,835.00/1,843.00 area and extend gains against the US Dollar in the short run.
Note that the price for gold could face the resistance level formed by the Fibo 23.60% at 1,860.59. If the given level holds, the rate could bounce off to re-test the predetermined support area.
