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
If the metal manages to pass the resistance of the 1,800.00 level, a surge could find resistance in the 200-hour simple moving average near 1,810.00 and the 55 and 100-hour simple moving averages near 1,815.00.
Meanwhile, a decline below the 1,795.00 level might look for support in round price levels. For example, throughout August the 1,785.00, 1,780.00 and 1,775.00 levels served as support.
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
Since Tuesday, the sentiment on the Swiss Foreign Exchange was 51% bearish, as 51% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 73% to buy the precious metal.