On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the price continues to decline, it would eventually reach the December low levels at 1,762.20/1,763.80. Below this level, the next target could be the 1,750.00 mark.
A recovery of the price might find resistance in round price levels until it reaches the combined resistance of the 50, 100 and 200-hour simple moving averages near 1,780.00.
XAU/USD daily charts review
On the daily candle chart, the metal has passed the trend line, which connects the August, September and November low levels.Meanwhile, the 50, 100 and 200-day simple moving averages were at the trend line. It was spotted on December 8 that the SMAs were acting as resistance.
Daily Candle Chart
Traders remain long
Since Thursday, the sentiment on the Swiss Foreign Exchange was 63% bullish, as 63% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 73% to buy the precious metal.