XAU/USD passes 23.60% FiboDuring Monday’s trading session, the yellow metal depreciated to the 1,285.00 level to pass the support level of the 23.60% Fibonacci retracement level. On Tuesday morning, the rate was located at the 1,288.28 mark.
In regards to the near-term future, most likely, the 55-hour simple moving average will retrace the rate to push it to end the trading day at the 1,280.00 level.
On the other hand, today’s US Durable Good Orders release at 12:30 GMT could push gold to appreciate against the US Dollar to break through the resistance levels of the 55-hour SMA and the 23.60% Fibo to trade at the 1,295.00 level.
