Gold continues to trade higher despite positive ADP job data

• Pair is currently hovering around $1240 levels. 
  
  
• It made intraday high at $1243 and low at $1237 levels. 
  
  
• Yesterday US released ADP job data with positive numbers at 214K m/m vs 193K m/m previous release.
  
   
• In addition, today China's Caixin Services Purchasing Managers' Index (PMI) fell from a six-month high of 52.4 in January to 51.2 in February.
  
  
• Intraday bias remains bullish for the moment.
  
  
• On the top side key resistance seen at $1248/$1252 levels.
  
  
• Initial support levels are seen at $1224/$1215 thereafter.
  
  
• Later today US will publish ISM non manufacturing data as well as factory order. This will provide further direction to the parity.

We prefer to take long position in XAU/USD around $1235, stop loss $1224 and target $1248/1268 thereafter.