Since Monday afternoon, the XAU/USD exchange rate has been consolidating near 1,945.00.
From the one hand, it is likely that yellow gold could continue to appreciate against the US Dollar within the following trading session. In this case the XAU/USD rate could target the 1,960.00/1,980.00 range.
From the other hand, it is likely that a reversal south could occur in the nearest future. In this case the price for gold could gain support from the 55-, 100– and 200-hour SMAs in the 1,889.30/1,919.40 area.
