XAUUSD (1317.63): Gold prices briefly tested the price level of 1325 before easing back lower. Gold prices fell to test new lows near 1314 levels with the current price action posting a wedge pattern. A breakout from this wedge pattern could signal an upside breakout. Gold prices are likely to test the resistance level at 1325 once again with further gains coming on a breakout above this resistance level. A close above 1325 could send gold prices higher on the day and potentially targeting the next main resistance level at 1337.
