FxWirePro: Gold range bound in Asian hours, intraday bias remains neutral

            

• XAU/USD is currently trading around $1229 mark.
   
• It made intraday high at $1230 and low at $1225 levels.
   
• Gold almost flat and trading range bound within small intervals.
   
• 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 $1250 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 $1230, stop loss $1224 and target $1242 marks.