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- Pair is currently supported above $1260 and trading around $1262 levels.
- It made intraday high at $1263 and low at $1255 levels.
- Overnight pair made high at $1268 levels just ahead of US NFP job results.
- Intraday bias remains bullish for the moment.
- Immediate resistance levels falls at $1268, $1281, $1296 and $1305 thereafter.
- Alternatively, reversal from $1268 will drag the pair below $1250.
- Initial support levels are seen at $1252, $1237 and $1224 marks.
- Important to note here that, on the top side breaks of today's high ($1263.95) is required for the further rally.
- The key event for the day is NFP job results. NFP data is expected to show job growth at 195,000 last month, up on the yet-to-be revised January figure of 151,000.
We prefer to take long position in XAU/USD around $1257-59, stop loss $1239 and target $1281/$1296 levels.
