On Tuesday, the XAU/USD exchange rate edged lower by 148 pips or 0.85%. The commodity traded above the 1720.0 level during Tuesday’s trading session.
As for the near future, the yellow metal’s price could continue to fall within the following trading session. The possible target for bearish traders will be near the 1680.00 area.
However, if the precious metal breaks the 55– hour simple moving average resistance level at 1735.5, a surge towards the 1780.00 level could be expected within this session.
