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XAU/USD is currently supported above $1250 and trading around $1253 marks.
- It made intraday high at $1256 and low at $1247 levels.
- Intraday bias remains bullish till the time pair holds key support at $1247 levels.
- A daily close below key support will turn the bias bearish and take the parity towards $1237/$1222 marks.
- Alternatively, reversal will drag the parity back above $1278/$1283 marks.
We prefer to take long position in XAU/USD around $1250, stop loss $1246 and target $1262/$1268 levels.
