The XAU/USD exchange rate has reached the psychological level at 1,880.00.
It is likely that yellow metal could continue to appreciate against the US Dollar within the following trading session. The price for gold could target the psychological level at 1,900.00 in the nearest future.
In the meantime, it is unlikely that bears could prevail in the market, and the exchange rate could decline below 1,845.00/1,860.59 range due to the support area formed by the 55-, 100– and 200-hour SMAs, as well the Fibo 23.60%.
