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- Pair is currently trading at $1236 levels.
- It made intraday high at $1239 and low at $1231 levels.
- Intraday bias remains bullish till the time pair holds key support levels at $1221 marks.
- On the top side minor resistance falls at $1242 levels.
- A daily close above $1252 levels will drag the parity towards $1268 and $1300 thereafter.
- Later today US will publish prelim GDP data q/q. Market expects 0.4% q/q release vs 0.7% previous release.
We prefer to take long position in XAU/USD around $1235, stop loss $1221 and Target $1252/1276.
