Wed, Apr 14, 2021 @ 07:41 GMT
Home Contributors Technical Analysis XAU/USD Consolidates At 1,810.00 Area

XAU/USD Consolidates At 1,810.00 Area

Since Tuesday, the XAU/USD exchange rate has been consolidating in the 1,810.00 area.

It is likely that yellow metal could gain support from the 55– and 200-hour moving averages in the 1,802.00 area. Thus, the rate could re-test the upper line of the rising wedge pattern circa 1,820.00/1,825.00.

If the predetermined pattern holds, the exchange rate could bounce off and decline to the given support within the following trading session.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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