On Tuesday, the price was reached by the resistance of the 100-hour simple moving average, which together with the 55-hour SMA started to push the metal down.
Economic Calendar Analysis
The week's notable events will start on Tuesday. At 12:30 GMT, the US statisticians are scheduled to publish the monthly Consumer Price Index and Core Consumer Price Index data.
On Thursday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data sets are set to be released to the public.
Note that at the same time the US Unemployment Claims are scheduled to be released.
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 hourly simple moving averages manage to push the price through the support of the 1,785.00 zone, the metal could look for support in round price levels, as it did in August.
On the other hand, a surge above the 55 and 100-hour SMAs would most likely encounter resistance in the 1,800.00/1,805.00 zone.
XAU/USD daily charts review
On the daily candle chart, the summer high level zone can be observed. The price has bounced off it for a fourth time since the start of July.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
On Tuesday, the sentiment on the Swiss Foreign Exchange was 54% bullish, as 54% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 72% to buy the precious metal.