XAU/USD might go upwards

During the previous trading session, the XAU/USD exchange rate tested the psychological level at 1,555.00. During Thursday morning, the rate was trading at 1,550.00 mark.  

Note that yellow metal is supported by the 55-, 100- and 200-hour moving averages, currently located in the 1,534.24/1,540.83 range. Thus, it is likely that some upside potential could prevail in the market. 

However, if the given psychological level holds, it is expected that gold could trade sideways against the Greenback within the following trading session.