Yesterday, the XAU/USD exchange rate tested the resistance formed by the 200-hour SMA near 1,898.00.
It is likely that yellow metal could gain support from the 55– and 100-hour SMAs in the 1,875.00 area and extend gains against the US Dollar in the nearest future.
In the meantime, if the given resistance holds, it is likely that gold could trade sideways against the Greenback within the following trading session.
