The yellow metal’s price rose by 275 pips or 1.57% on Friday. The commodity breached the 200– hour simple moving average at 1769 during Friday’s trading session.
Everything being equal, the XAU/USD exchange rate is likely to continue to edge higher in an ascending channel pattern during the following trading session. The potential target for bulls will be near the 1820.00 level.
However, bullish traders might encounter resistance at 1800.00 within Monday’s trading session.
