The XAU/USD exchange rate has revealed a medium-term ascending channel.
From a theoretical point of view, it is likely that the exchange rate could re-test the lower channel line located circa 1,905.00. If the given channel holds, a reversal north could follow.
Meanwhile, note that yellow metal could gain support from the 55-hour moving average near 1,914.00. Thus, the rate could re-test the upper channel line located circa 1,930.00 in the short run.
