Since Friday, the XAU/USD exchange rate has been testing the psychological level at 1,960.00.
It is likely that yellow metal could appreciate against the US Dollar, as it could gain support from the 55-hour moving average near 1,942.50. The rate could target the 1,990.00/2,000.00 range.
Meanwhile, if the given psychological level holds, a reversal south could occur. In this case the price for gold could gain support of the 100– and 200-hour SMAs in the 1,905.00/1,923.50 range.
