FxWirePro: Gold fails to break key support at $1227, intraday bias remains bullish

            

• XAU/USD is currently trading around $1232 mark.
   
• It made intraday high at $1235 and low at $1227 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $1227 marks.
   
• A daily close above $1232 is required to take the parity up towards $1242 marks again.
   
• On the top side, key resistances are seen around $1237, $1242 and $1247 levels.
   
• Alternatively, a sustained break below $1227 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 only above $1232, stop loss $1222 and target $1242/$1247 marks.