On Wednesday, the XAU/USD exchange rate failed to surpass the psychological level at 1,454.00. During today’s morning, the rate was trying to surpass the 55-hour SMA at 1,457.64.
If the given resistance holds, it is likely that the price for gold could reverse south in the nearest future. In this case, the rate could try to surpass the given psychological level again.
If the given level holds, yellow metal could trade sideways against the Greenback within the following trading session. Otherwise, it is likely that the rate could target the 1,450.00 mark.
