XAUUSD (1323.70): Gold prices fell to intraday lows of 1318.85 before price action has started to consolidate. The consolidation below the 1325 level of support is expected to see this level being tested as resistance. The 4-hour chart is signaling a bullish divergence with the current lows forming a higher low on the Stochastics oscillator. A successful breakout above 1325 could signal a move to the upside with the next main resistance level at 1337.50 being the most likely target.
