This week's notable events for this pair are over. On Friday, macroeconomic traders might want to look at the Canadian GDP publication.
XAU/USD short-term forecast
A continuation of the price surge might encounter resistance in the 200-hour simple moving average near 1,925.00. In addition, take into account that the commodity is highly likely going to be slowed down by round price levels like the 1,920.00, 1,930.00 and 1,940.00.
However, a decline of the price might look or support in the 1,907.50/1,911.30 zone. Further below, the 100 and 50-hour simple moving averages could slow down a decline near 1,900.00 and 1,890.00.
XAU/USD daily charts review
On the daily candle chart, the metal's price has pierced the support zone, which surrounds the 1,900.00 mark and the 100-day simple moving average. Next support on the chart is the 200-day simple moving average near 1,840.00.Daily Candle Chart
Traders are long
Since Thursday, the sentiment on the Swiss Foreign Exchange was 61% bullish. Namely, 61% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 57% to buy the precious metal.