Yesterday, the XAU/USD exchange rate jumped to 1,950.00. During Thursday morning, the rate was trading near the given level.
It is likely that the price for gold could reverse south from the resistance formed by the 200-hour moving average near 1,945.00. In this case the rate could gain support from the 55– and 100-hour SMAs near 1,935.00.
In the meantime, it is unlikely that bulls could prevail in the market in the nearest future, and the price for gold could exceed the monthly PP located at the 1,969.20 mark.
