XAUUSD (1224.18): Gold prices managed to consolidate above the support level of 1225.35 before slipping past this level. At the time of writing, gold prices are seen retracing the losses. However, failure to close past the 1225.35 level which could now act as resistance could signal the downside. The lower support at 1207 becomes the first support level of interest which could be tested. To the upside, gold will need to close back above 1225.35 and preferably post a higher high to confirm the upside.
