XAUUSD Intraday Analysis

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XAUUSD (1228.21): Gold prices continued to maintain a flat range following the strong rally last week. Price action is currently perched near 1225.35 level and price action has been rather choppy. This potentially increases the risk of a correction. If gold prices break down below the support level, we expect a move toward the 1207.00 region. Establishing support here could potentially keep the upside bias in place leaving gold prices to target the 1225 level once again