On Tuesday, the XAU / USD exchange rate could not exceed 1,710.00. During today’s morning, the frequency tested the lower line of the rising triangle pattern.
From a theoretical point of view, it is likely that a return north may occur in the near future. In this case, the price of gold could exceed the mark 1,710.00.
However, note that the rate has to exceed the 55- and 100-hour SMAs near 1,705.00. If given resistance holds, an outbreak may occur south of the pattern and the price of gold could fall below 1,695.00.