Wed, Jan 20, 2021 @ 21:40 GMT
Home Contributors Technical Analysis XAU/USD Remains Below 1,930.00

XAU/USD Remains Below 1,930.00

On Monday, the XAU/USD exchange rate remained to trade below the 1,930.00 level.

It is likely that yellow metal could gain support from the 55-hour SMA near 1,921.00 and trade upwards in the short run. In this case the rate could target the 1,940.00/1,950.00 area.

However, if the 1,930.00 level holds, it is likely that yellow metal could trade sideways against the US Dollar, supported by the monthly PP at 1,909.25.

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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