During today’s morning, the XAU/USD exchange rate reversed north from the 1,830.00 mark.
It is likely that yellow metal could appreciate against the US Dollar within the following trading session. In this case the price for gold could face the resistance formed by the 55-, 100– and 200-hour SMAs in the 1,887.00/1,910.00 range.
In the meantime, note that the exchange rate would have to surpass the resistance level—the Fibo 23,60% at 1,860.59. If the given level holds, gold could continue to decline against the Greenback in the short run.
