As traders get more calm about the situation in Greece, the dollar retraces against the main majors, and the gold trades at 1138.36 dollars per ounce. The bands of Bollinger are narrowing, indicating low volatility, while the RSI is on a neutral zone and the CCI shows buying signs.Right now, the price is consolidating with the 200 days MA, which could act as a support, leaving the doors open to the 1150 target. Below, 1120 is still the support traders focus on.

For the rest of the session, the XAUUSD could give us excellent trading opportunities, after the series of macro data from the US and Europe.