The yellow metal's price has touched the 1,780.00 level.
It is likely that the XAU/USD exchange rate could gain support from the 100-hour moving average and trade upwards in the short run.
In regards to the metal's price during the week, there are a couple of scheduled macroeconomic data releases that could impact it.
Today, macroeconomic data set release from the US could impact the market. The US Durable Goods Orders, Final GDP and Unemployment Claims data are set to be published at 12:30 GMT.
XAU/USD short-term forecast
Yesterday, the XAU/USD exchange rate touched the 1,780.00 level and reversed south. During Thursday morning, the rate was trading at 1,765.00.
It is likely that yellow metal could gain support from the 100-hour moving average near 1,756.00 and extend gains against the US Dollar. In this case the rate could re-test the 1,780.00 mark.
Meanwhile, note that gold could be pressured by the 55-hour moving average near 1,765.00. Thus, it is likely that the rate could re-test the lower boundary of the medium-term ascending channel circa 1,750.00.
Hourly Chart
On the daily candle chart, the rate has passed the resistance, which kept it down in May.
Meanwhile, the commodity price is being followed by the support of the 55-day simple moving average, which on Monday was located above the 1,710.00 mark.
In addition, note that the resistance trend line of the 2019 and 2020 high levels could provide resistance near 1,780.00.
Daily Candle
Traders remain neutral
On Thursday, on the Swiss Foreign Exchange the sentiment almost bearish, as it was 63% short.
It is likely that the bulls had taken profits, leaving the bears with their positions.
Meanwhile, in 1000-pip range around the current metal's price the orders were set to buy, as 62% were bullish orders.