At mid-day on Tuesday, the price passed the support of the 200-hour SMA and the 1,810.00 level.
Economic Calendar Analysis
On Friday, the rate could move due to the publication of the US Producers Price Index at 12:30 GMT.
XAU/USD short-term forecast
In the near term future, the metal was expected to continue to decline, as it had no technical support. However, most likely round price levels are bound to impact the price. For example, the 1,800.00 could once again provide support.
Meanwhile, a potential recovery would most likely face the resistance of the 200-hour SMA near 1,811.00 and the 55 and 100-hour SMAs near 1,820.00.
XAU/USD daily charts review
On the daily candle chart, the summer high level zone can be observed better.Meanwhile, note the round price levels, which have been providing support throughout summer. Namely, the 1,780.00, 1,760.00 and 1,720.00 levels have been acting as support levels.
Daily Candle Chart
Traders are neutral
On Monday, the sentiment on the Swiss Foreign Exchange was 50% bearish and bullish.
On Tuesday, the sentiment was 51% short.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 68% to buy the precious metal.
On Monday, the orders were 74% to buy.