The XAU/USD exchange rate has tumbled below the psychological level at 1,820.00.
It is unlikely that bulls could prevail in the market, and the price for gold could exceed the 1,836.20/1,847.90 range due to the resistance area formed by the 55-, 100– and 200-hour SMAs.
Yellow metal could continue to depreciate against the US Dollar within the following trading session. The exchange rate could target the 1,800.00/1,805.00 area.
