The XAU/USD exchange rate fell by 124 pips or 0.66% during Friday’s trading session. The decline was stopped by the 100– hour simple moving average on Friday.
The previous metal bounced off the lower boundary of an ascending channel pattern during the Asian session on Monday. Most likely, the commodity could edge higher during the following trading session.
However, the yellow metal could encounter resistance at the 1890.0 level within this session.
