Since Friday, the XAU/USD exchange rate has been testing the resistance provided by the 200-hour moving average near 1,900.00.
Given that yellow metal is supported by the 55– and 100-hour moving averages near 1,880.00, it is likely that some upside potential could prevail in the market in the short term.
In the meantime, if the predetermined resistance holds, a reversal south could occur. In this case the exchange rate could target the 1,850.00/1,860.00 range.
