FxWirePro: Buy Gold above $1234 with stop loss at $1227 and target $1247

XAU/USD is currently trading around $1234 mark.

• It made intraday high at $1242 and low at $1228 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $1228 marks.
   
• A daily close above $1237 is required to take the parity up towards $1250 marks again.
   
• On the top side, key resistances are seen around $1237, $1242 and $1247 levels.
   
• Alternatively, a sustained break below $1228 will drag the parity down towards key support levels at $1222, $1217 and $1212 marks respectively.

We prefer to take long position in XAU/USD above $1234, stop loss $1227 and target $1247 marks.