Yesterday, the XAU/USD exchange rate touched the 1,785.00 mark.
Given that yellow metal is pressured by the 55-, 100– and 200-hour moving averages in the 1,797.40/1,804.20 range. Thus, some downside potential could prevail in the market.
In the meantime, if the 1,785.00 mark holds, the price for gold could reverse north and target the upper line of the falling wedge pattern located circa the 1,815.00 level.
