XAU/USD: Gold prices fell below its 500 EMA; support is at 1217.80

XAU/USD: Gold prices fell below its 500 EMA; support is at 1217.80

What is going on with XAU/USD?

XAU/USD: Gold prices have fallen into negative territory in today's session after sliding below its 500 EMA and 1221.70 support. Gold prices are currently looking for support at 1217.80. The pair could head back up to 1220.25 and 1221.70 if it maintains above 12217.80 support. Gold prices could fall further down to 1216.45 and 1215.00 if it fails to hold above 1217.80 

Support/Short- 1217.80, 1216.45, 1215.00, and 1212.75

Resistance/ Long Target - 1220.25, 1221.70, 1223.90, and 1224.55

Chart 1: The short-term view of the XAU/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

XAUUSD

Chart 2: The short-term view of the XAU/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

XAUUSD

Neither LeoPrime nor any of its third-party Information Providers shall be liable for any direct, indirect, incidental, special or consequential damages arising out of or relating to this Agreement or resulting from the use or the inability to use the Services, including but not limited to damages for loss of profits, use, data or other intangible damages, even if such party has been advised of the possibility of such damages. LeoPrime shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions, or interruptions in the delivery of the data and services available on this Website or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. In no event will LeoPrime be liable for any special, indirect, incidental, or consequential damages which may be incurred or experienced on account of you using the data or services made available on this Website, even if LeoPrime has been advised of the possibility of such damages. LeoPrime will not bear any responsibility to inform you of any difficulties experienced by LeoPrime or third parties, with respect to the use of the services or to take any action in connection therewith.