On Monday, the XAU/USD exchange rate consolidated in the 1,740.00 area. During today’s morning, the rate maintained its consolidation.
Given that yellow metal is supported by the 55-, 100– and 200-hour moving averages in the 1,725.00/1,735.00 range, it is likely that some upside potential could prevail.
Meanwhile, gold could remain pressured by local resistance level at 1,745.00. If the given level holds, it is likely that the exchange rate could trade sideways within the following trading session.
