Since no important economic news are due today, traders will probably concentrate on setting prices for current market topics.
In particular, USD bears can keep cheering the likelihood that the Fed won't be as hawkish at its next sessions as it was in recent meetings.
Gold bugs are now more at ease purchasing the safe-haven metal instead of USD due to the Fed's potential for a slower tightening of monetary policy.
XAU/USD is currently trading strongly above the 1,750 level after having risen from its intraweek lows at 1,730.
But around 1,760, the gold-buying ran into trouble. As you can see, in the 1-hour time frame, the region aligns up with a prior support and the 200 SMA. Did the resistance of 1,760 hold this time?
Under the barrier, bearish momentum might push XAU/USD back to its 1,730 lows.
However, if there is any profit-taking before the week is out or if a news item strengthens the dollar versus its key competitors, XAU/USD may revisit its 1,760 highs or perhaps set new weekly highs.
