In the meantime, it was spotted that the recent decline is occurring in a channel down pattern. The lower trend line of the pattern, crosses the 1,910.00 level and provides additional support. Economic Calendar Analysis
On Thursday, at 12:30 GMT, the US Durable Goods Orders, Core Durable Goods Orders and the weekly Unemployment Claims might cause minor moves on USD charts.
Week's notable events will end with the release of the US Manufacturing and Services PMIs at 13:45 GMT, also on Thursday.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
A recovery of the metal's price from the 1,910.00 level would most likely encounter resistance at the 1,930.00 mark, where the 50 and 100-hour simple moving averages are located at. Above the moving averages, note the upper trend line of the channel down pattern.
If the metal breaks the descending pattern, it is set to find support in the March low level zone at 1,895.60/1,907.50.
XAU/USD daily charts review
On the daily candle chart, the metal's price is being approached by the 50-day simple moving average, which is located near 1,885.00.Daily Candle Chart
Traders are neutral
On Tuesday, the sentiment on the Swiss Foreign Exchange was 51% bullish, as 51% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 55% to buy the precious metal.