During the week, it is highly unlikely that a data release might impact this rate. However, take into account the Thursdays US Markit PMIs at 13:45 GMT and the weekly Unemployment Claims at 12:30 GMT.
XAU/USD short-term forecast
In regards to the future, if the metal surges, the price is set to encounter resistance in the 1,860.00, 1,865.00, 1,870.00 and 1,880.00 levels, which all acted as resistance during the first half of June. Higher above, expect the 1,900.00 to slow down a potential surge.
However, a decline below 1,840.00 and the 200-hour simple moving average might look for support in the 50 and 100-hour simple moving averages, before reaching the support zones at 1,825.00/1,830.00 and 1,805.00/1,810.00.
XAU/USD daily charts review
On the daily candle chart, the price has encountered resistance in the form of the 50 and 200-day simple moving averages at 1,860.00 and 1,870.00.Daily Candle Chart
Traders are long
The sentiment on the Swiss Foreign Exchange was 59% bullish. Namely, 59% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 50% to buy and sell the precious metal.