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XAU/USD Technical analysis

Close 1244.98                                  High 1253.19                                  Low 1242.58

Gold broke its downside trend that started since mid-March 2015, when it reached the key level of 1046 0.77. Currently the price of the precious metal found support at the psychological level of $ 1,060, 31 as it successfully broke the previous lows around $ 1,100. Possible continuation of the movement will lead to the nearest resistance in the area around $ 1 220 .31, and then to 1,300$.  Support should be looking at $ 1,084 followed by $ 1,040, while in the longer term - under $ 1,000.