XAUUSD (1199.16): Gold prices fell to the support level at 1197.50 and price action has been trading rather flat near this level. With the minor trend line being breached, gold prices could be at risk of slipping to 1180.25 support. Forming support at this level could still keep the bias to the upside. Alternately, if gold prices manage to establish support at 1197.50 then we can expect to see the upside target of 1219.75 being tested easily.
