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- Pair is currently trading at $1218 levels.
- It made intraday high at $1238 and low at $1214 levels.
- Intraday bias remains neutral for the day.
- A daily close below $1214 will drag the parity below $1200 marks.
- On the other side, a break of $1222 will take the parity above $1250 marks.
- Today US banks will be closed in observance of Presidents' Day. So movement will be range bound for the day.
- Initial support levels are seen at $1212, $1207 and $1202 thereafter.
- On the top side, resistance levels are seen at $1218, $122 and 1227 marks.
We prefer to take long position in XAU/USD around $1215, stop loss $1207 and take profit $ 1227 marks.
