FX.co ★ Technical review for XAU/USD: growth may resume

Gold is starting to rise from under 1858.85 because of brewing tensions in the US, China and Taiwan. A rally is likely to occur because the issue will surely provoke purchases from investors.

Technical picture:

The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is moving horizontally, while the stochastic indicator is turning up above the oversold zone.

Possible dynamics:

Growth and consolidation of spot gold above 1858.85 may lead to an increase to 1885.00.