FxWirePro: Gold breaks key resistance at $1242, intraday bias remains bullish

                   

• XAU/USD is currently trading around $1250 mark.
   
• It made intraday high at $1251 and low at $1239 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $1242 marks.
   
• A daily close above $1252 is required to take the parity up towards $1272 marks.
   
• On the top side, key resistances are seen around $1252, $1262 and $1267 levels.
   
• Alternatively, a sustained break below $1238 will drag the parity down towards key support levels at $1222, $1214, $1202 and $1190 marks.

We prefer to take long position in XAU/USD at $1248, stop loss $1238 and target $1268 marks.