The XAU/USD exchange rate has revealed a falling wedge pattern.
From a theoretical perspective, it is likely that the rate could continue to follow the predetermined pattern within the following trading session.
In the meantime, note that yellow metal is pressured by the 55-, 100– and 200-hour SMAs in the 1,850.00 area. Thus, a breakout south could occur, and the price for gold target the 1,825.00 mark.
