On Friday, the XAU/USD exchange rate broke the short-term descending channel north. During today’s morning, was trading at 1,812.00.
Given that yellow metal is supported by the 55-, 100– and 200-hour SMAs near 1,805.00, it is likely that the price for gold could go upwards in the short term.
However, if the exchange rate fails to exceed the psychological level at 1,815.00, it is likely that gold could trade sideways against the US Dollar within the following trading session.
