XAU/USD Analysis: Could Trade Downwards

<p>During Wednesday morning hours, the XAU/USD exchange rate breached the rising wedge pattern south. It is likely that some downside potential could prevail in the market, as yellow metal is pressured by the 55-, 100– and 200-hour SMAs, as well the Fibo 23.60% in the 1,851.20/1,860.59. In the meantime, it is unlikely that bulls could [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.actionforex.com/contributors/technical-analysis/356118-xau-usd-analysis-could-trade-downwards-2/">XAU/USD Analysis: Could Trade Downwards</a> appeared first on <a rel="nofollow" href="https://www.actionforex.com">Action Forex</a>.</p>