The 100– hour simple moving average provided resistance for the precious metal on Thursday. As a result, the XAU/USD exchange rate fell by 132 pips or 0.73% during Thursday’s trading session.
Given that the commodity has breached the 200– hour SMA support level at 1810.8, bearish traders are likely to continue to drive the yellow metal’s price lower within this session.
However, short traders could encounter support near the 1795.00 level during the following trading session.
