On Monday, the XAU/USD exchange rate tumbled to the 1,900.00 level. During today’s morning, the rate was testing the given level.
From the one hand, it is likely that a reversal north could occur in the nearest future. In this case the price for gold could target the resistance range formed by the 55-, 100– and 200-hour SMAs in the 1,935.00/1,947.00 area.
From the other hand, the exchange rate could face resistance at the 1,920.00. Thus, yellow metal could trade sideways against the US Dollar within the following trading session.