XAUUSD (1294.57): Gold prices fell strongly on the day as price action breached past the 1300 level of support. The decline below this level could suggest a near term consolidation with further losses likely to push gold prices lower toward the 1250 level of support which remains the next target. To the upside, any corrective rallies could potentially stall near the 1311 – 1307 level of resistance.
