Sun, Jan 17, 2021 @ 12:00 GMT
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XAU/USD Tests Fibo 23.60%

Since Tuesday, the XAU/USD exchange rate has been testing the resistance level—the Fibo 23.60% at 1,860.59.

From the one hand, it is likely that yellow metal could be pushed down by the 100-hour moving average near 1,870.00. In this case the exchange rate could decline below the 1,820.00 level.

From the other hand, yellow metal could gain support from the 55-hour moving average near 1,850.30. In this case the price for gold could try to exceed the 200-hour SMA near 1,898.00.

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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