This week, the pair could react to the release of US Durable Goods Orders on Tuesday at 12:30 GMT.
On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value.
On Friday, at 12:30 GMT, the US Core PCE Price Index is set to impact the US Dollar.
XAU/USD short-term forecast
An extension of the recovery could encounter resistance in the combination of the 1,940.00 mark and the 200-hour simple moving average. Higher above, the 1,950.00 mark is expected to impact the commodity price.
Meanwhile, a potential decline of the metal's price is expected to look for support in the 50-hour simple moving average and the 1,920.00 mark, before reaching the 1,910.25 level.
XAU/USD daily charts review
On the daily candle chart, the metal has passed below the 100-day simple moving average and the lower trend line of the channel up pattern that has guided the price up since October.On this chart support is being found in the 1,900.00/1,915.00 range, which captures the support and resistance zone that has impacted the rate since 2021.
Daily Candle Chart
Gold traders are long
On Monday, gold traders were bullish, as 60% of open positions were long.
Meanwhile, pending trade orders in the 1000 point range around the current price were 67% to sell the metal.