XAU/USD revealed resistance area

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs36%39%-6.3%
Shorts64%62%3.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Yesterday, the XAU/USD exchange rate tested the resistance area at 1,785.00/1,790.00. During Tuesday morning, the rate was testing the support formed by the 55– and 100-hour SMAs near 1,777.00.

If the given support holds, it is likely that a reversal north could occur, and yellow metal could re-test the predetermined resistance area.

Meanwhile, it is unlikely that some downside potential could prevail in the market, as the rate could gain support from the 200-hour SMA near 1,773.00.

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