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Yellow metal hit the highest level since the beginning of November as the Federal Reserve decided to keep interest rates unchanged.
- Yesterday pair made high at $1127 levels and currently trading at $1120 levels.
- Pair failed to hold above major resistance of $1127 marks.
- Later today US will publish durable goods, pending home sales and jobless claims data which will provide further direction to the parity.
- Intraday bias remains bearish below $1122 mark.
- Major support levels are falls at $1117, $1112 and $1102 thereafter.
- Resistance levels are seen at $1122, $1127 and $ 1132 thereafter.
We prefer to take short position in XAU/USD around $1120, stop loss $1123 and Target $1112 levels.
