Sat, Nov 28, 2020 @ 07:40 GMT
Home Contributors Technical Analysis XAU/USD Pressured By Moving Averages

XAU/USD Pressured By Moving Averages

On Friday, the XAU/USD breached the medium-term ascending channel south.

It is likely that some downside potential could prevail in the market, as yellow metal is pressured by the 55-, 100– and 200-hour SMAs, as well the monthly PP in the 1,905.00/1,909.25 area.

Meanwhile, note that the exchange rate could gain support at the 1,895.00 mark. Therefore, gold could trade sideways against the US Dollar in the short term.

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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