Yesterday, the XAU/USD exchange rate could continue to trade upwards. The rate reached the 1,840.00 mark.
From the one hand, it is likely that some upside potential could prevail in the market. In this case the price for gold could face the resistance level formed by the Fibo 23.60% at 1,860.59.
From the other hand, a reversal south could occur in the nearest future. Note that yellow metal could gain support from the 55-, 100– and 200-hour SMAs in the 1,804.00/1,817.00 range.
