FxWirePro: Gold trading in narrow range, good to buy above $1268

                                                          

• XAU/USD is currently trading around $1266 mark.
   
• It made intraday high at $1267 and low at $1259 levels.
   
• Intraday bias remains bullish till the time pair holds immediate support at $1258 marks.
   
• A daily close above $1268 will take the parity up towards $1272, $1285, $1298 and $1303 marks respectively.
   
• Alternatively, a daily close below $1258 will drag the parity down towards key support levels at $1252, $1248, $1242 and $1237 marks respectively.

We prefer to take long position in XAU/USD only above $1268, stop loss $1258 and target $1280/$1292 marks.