Will gold continue falling?

Since gold is a safe-haven instrument, during the last presidential elections in the US, the commodity had very high volatility. But the risk aversion left the markets and gold dropped, pressured by the rally in the Dollar. Once the price of gold broke below its 200 day EMA, blue line, around the 1270.66, the bearish momentum accelerates and gold visits the low at the 1241.45 level. The 1241.45 level had acted as a support in the past, but the drop in gold was so strong that it also broke that level to reach the 1219.11 level. The bearish trend may continue and gold may visit the 1200.00 level. To the upside the most important resistances could be the 200 EMA, the 1300.00 level and the high at the 1337.04 level.