XAUUSD (1280.61): Gold prices continue to consolidate with the attempt to retest the 1285 resistance level failing. Gold prices remain caught within the range of 1285 and 1274 levels as a result. In the near term, this consolidation is likely to emerge into a breakout. With the bias balanced, the breakout could be in any direction. To the upside, above 1285 resistance, gold prices could be seen pushing higher, targeting 1304 resistance. To the downside, a break down below 1274 will signal a continuation towards the 1262 handle.
