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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.
