On Thursday morning, the price was testing the resistance of the 1,805.00 level.
Economic Calendar Analysis
At 12:30 GMT, on Thursday, the US Advance GDP is expected to impact the value of the US Dollar. In addition, the US Unemployment Claims could also slightly impact the USD.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the price continues to surge, it would most likely test the resistance of the 1,810.00 level, which reversed the metal's recovery on Monday.
On the other hand, a decline of the metal could find support in the combination of the 55 and 100-hour simple moving averages above the 1,795.00 level. Below the 1,795.00, the 200-hour SMA at 1,786.00 might once again act as a support level.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has broken and passed the resistance of the 100 and 200-day simple moving averages near 1,793.00.In the meantime, a channel up pattern was spotted, which has guided the price since late September. If the pattern holds, the price could return to the 1,830.00 mark.
Daily Candle Chart
Traders are almost neutral
Since Monday, the sentiment on the Swiss Foreign Exchange was 53% bullish, as 53% of open position volume was in long positions.
Meanwhile, on Thursday, in the 1000-pip range around the metal's price pending trade orders were 63% to buy the precious metal.