Gold trading earlier this week was seen showing a flat price movement even though the US dollar was still in a period of depreciation.
Price movements for the US dollar are expected to be more active today after banks in the United States (US) closed in conjunction with Presidents Day and Lunar New Year.
The movement on the XAU / USD price chart is seen hovering in the 1820.00 price zone earlier in the week after the price declined from the resistance level of 1850.00 last week.
In the 1 hour time frame on the XAU / USD chart, investors are examining the price reaction to the Moving Average 50 (MA50) barrier level which will give an early signal for the direction of the gold price movement.
If the price manages to soar above the 1820.00 zone, investors will expect a bullish bullish trend again and head towards the resistance level of 1850.00.
The resistance zone will be tested again this week before the price continues to rise to the resistance level of 1875.00.
On the other hand, if the price declines lower, the price support level is seen at 1800.00 which is the previous focus level.
A lower downtrend will test the support zone of 1785.00 which supports the price rise again during the decline in early February.
Next, the lower fall is seen to hit again at the level of 1765.00 which was the support level for trading at the end of November last year.
Investors will also monitor current market sentiment which will continue to influence gold trading.
