The XAU/USD exchange rate failed to exceed the resistance level formed by the monthly PP at 1,909.25.
It is likely that yellow metal could gain support from the 200-hour moving average near 1,883.00. Thus, the exchange rate could trade sideways within the following trading session.
In the meantime, note that the rate is pressured by the 55-hour moving average near 1,900.00. Thus, the price for gold could go downwards in the nearest future.
