On Friday, the XAU/USD exchange rate re-tested the resistance level at 1,875.00.
Given that yellow metal is supported by the 55-, 100– and 200-hour SMAs, as well the Fibo 23.60% in the 1,849.00/1,860.59 range, it is likely that some upside potential could prevail in the market in the nearest future.
However, if the predetermined resistance level holds, the price for gold could reverse south and target the support level located at the 1,835.00 mark.
