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.
