The price of gold on Tuesday's trading yesterday seemed to want to continue climbing higher, but was blocked at the level of $1,930.
The US dollar currency, which affects the movement of gold, traded gloomy yesterday as the United States (US) market was also closed.
Analysts expect the calm situation from the beginning of the week to change its pattern towards the end of the week with high-impact data to be published including the FOMC minutes report and US NFP jobs.
Looking at the XAU/USD price chart, the price that surged past the 1920.00 level at the beginning of the week reached the 1930.00 level.
On Tuesday yesterday, the price still did not manage to pass the 1930.00 level which became an obstacle when making the price.
However, the price is seen to be still circulating above the support level of the Moving Average 50 (MA50) on the 1-hour time frame on the XAU/USD chart, which indicates that the price movement is still bullish.
The price movement today (Wednesday) until the European session is seen to drop slightly to the level of 1920.00 but bounce back.
If the price increase succeeds in continuing past the 1930.00 resistance, the price will try to break through the 1940.00 level before heading to the previous concentration zone at 1950.00.
However, if the price falls below the 1920.00 level, it will be an early signal for the price to extend its decline to the 1900.00 support zone that was reached last week.
A drop lower after a clear bearish indication could push the price down to around 1870.00.
