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- XAU/USD is currently trading around $1236 mark.
- It made intraday high at $1240 and low at $1234 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $1229 marks.
- A daily close above $1242 will take the parity up towards $1252 marks again.
- On the top side, key resistances are seen around $1237, $1242, $1257 and $1262 levels.
- Alternatively, a sustained break below $1229 will drag the parity down towards key support levels at $1227, $1222 and $1212 marks respectively.
We prefer to take long position in XAU/USD around $1235, stop loss $1229 and target $1247 marks.
