Since Monday, the XAU/USD exchange rate has been consolidating in the 1,820.00 area.
From the one hand, it is likely that the price for gold could be pushed down by the 100– and 200-hour moving averages in the 1,825.00/1,830.00 range. Note that the rate could gain support at the 1,810.00 mark.
From the other hand, it is likely that yellow metal could gain support from the 55-hour moving average near 1,822.00. Thus, some upside potential could prevail in the market.
