Yesterday, the XAU/USD exchange rate raised to the 1,885.00 level.
From the one hand, it is likely that some upside potential could prevail in the market. In this case the exchange rate could face the resistance formed by the 200-hour SMA near 1,900.00.
From the other hand, it is likely that bears could prevail in the market in the short run. Note that the price for gold could gain support from the 55– and 100-hour SMAs, as well the monthly S1 in the 1,865.00 area.
