Gold dips as markets eye Greece bailout standoff – MP

FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at MarketPulse, gives the key technical levels for XAU/USD, with the pair trading lower in the European session as Greek bailout crisis continues.

Key Quotes

“The Greece bailout crisis continues, as Eurozone finance ministers (Eurogroup) abruptly halted talks on Monday aimed at reaching an agreement between Greece and its creditors.”

“The bailout agreement expires at the end of February, and Eurogroup head Jeroen Dijsselbloem said that Greece must accept the next installment of funds under current bailout conditions.”

“For its part, Greece has demanded easier austerity conditions while continuing to have access to bailout funds”

“The stakes are high, as lack of an agreement could lead to Greece leaving the Eurozone and abandoning the euro.”

“XAU/USD has showed little movement in the Asian session. The pair is slightly lower in the European session.”

“1240 remains a weak resistance line. 1255 is next.”

“1215 is a weak support level.”

“Current range: 1215 to 1240”

“Further levels in both directions:

Below: 1215, 1200, 1175 and 1154

Above: 1240, 1255, 1275, 1300 and 1322”