XAUUSD (1218.03): Gold prices broke down from the support level at 1225.35 and fell to a three week low. While the downside target remains at 1207.00, the current retracement could potentially push prices back to the 1225.35 level. A retest of resistance here could keep the precious metal biased to the downside. However, if gold prices break past 1225.35 then we expect to see a short-term uptrend being resumed.
