FxWirePro: Gold tightly holds $1,242 mark, a sustain break below targets $1,225

• XAU/USD is currently trading around $1242 marks.
   
• It made intraday high at $1246 and low at $1241 marks.
   
• Intraday bias remains neutral till the time pair holds key support at $1242 marks.
   
• A sustained break below $1242 will take the parity back below $1225 marks.
   
• Alternatively, a daily close above $1248 will drag the parity higher towards key resistances around $1252, $1268 and $1272 marks respectively.
   
• Key support levels are seen at $1238, $1222, $1218 and $1211 marks respectively.
   
• Important to note here that, 20D, 30D and 55D EMA heads down in a daily chart and a daily close below $1238 will confirm the bearish trend too.
   

We prefer to take short position in XAU/USD only below $1238, stop loss $1248 and target $1225 marks.