XAUUSD (1198.50): Gold prices are seen consolidating near the 20-period moving average from the 4-hour chart. Price action remains trading sideways. However, there is scope for gold prices to test the upper resistance level at 1212.05. To the downside, the support at 1193.04 will most likely be tested in the short term. A close below this level could push gold prices back down to the 1183.30 level of support.
