The XAU/USD exchange rate bounced off the lower boundary of an ascending channel pattern at 1765.3 on Wednesday. As a result, the commodity surged by 175 pips or 0.99% during Wednesday’s trading session.
The exchange rate could continue to edge higher during the following trading session. Buyers are likely to target the 1800.00 level today.
However, technical indicators on the weekly time-frame chart suggest that the precious metal might decline against the Greenback during Thursday’s trading session.
