Yesterday, the XAU/USD exchange rate dropped to the 1,935.00 level. During Thursday morning, the rate declined to 1,930.00.
From the one hand, it is likely that some downside potential could continue to prevail in the market, and the price for gold could target the 1,910.00/1,920.00 range.
On the other hand, it is likely that a reversal north could occur. In this case the rate could face the resistance provided by the 200-hour SMA near 1,948.00. If the given resistance holds, gold could consolidate against the Greenback.
