Yesterday, the XAU/USD exchange rate jumped to the 1,915.00 level and reversed south.
It is likely that some downside potential could prevail in the market, as yellow metal is pressured by the 200-hour moving average near 1,894.00. In this case the price for gold could decline to the 1,865.00/1,785.00 range.
In the meantime, the exchange rate could gain support from the 100-hour moving average near 1,886.50. Thus, a reversal north could occur, and the rate could re-test the 1,915.00 mark.
