FxWirePro: Gold breaks key resistance at $1252, good to buy on dips

                  

• XAU/USD is currently trading around $1254 mark.
   
• It made intraday high at $1259 and low at $1253 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $1248 marks.
   
• A daily close above $1258 is required to take the parity up towards $1272 marks.
   
• On the top side, key resistances are seen around $1258, $1262 and $1267 levels.
   
• Alternatively, a sustained break below $1248 will drag the parity down towards key support levels at $1232, $1227, $1212 and $1190 marks respectively.

We prefer to take long position in XAU/USD at $1253, stop loss $1250 and target $1268 marks.