At the previous trading session, the XAU/USD exchange rate tested the 1,464.00 level. During Monday morning, the rate was testing the resistance level formed by the 55– and 100-hour SMAs at 1,457.79.
If the given resistance holds, it is likely that a reversal south could occur in the nearest future. However, note that yellow metal could gain support at the psychological level at 1,454.00.
If the given resistance does not hold, the price for gold could raise within the following trading session. In this case gold could face the resistance formed by the 200-hour SMA and the Fibo 23.60% at 1,462.89.
