XAUUSD (1187.64): Gold prices broke out from the short-term consolidation range and continue to trend lower. With the 1200 level being breached gold prices are seen currently testing the 1187.50 level. Near-term declines could keep the trend to the downside. The next major support level is seen at 1144.00 which marks a multi-year level of support. A retest of this level could potentially mark the completion of the downtrend.
