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XAU/USD Intraday outlook

Pair is currently trading around $1166 levels. It made intraday high at $1173 and low at $1164 levels. A break of $1174 levels will take the parity towards $1200 levels. Alternatively, a reversal from Friday's high ($117…

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XAU/USD Intraday outlook
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  • Pair is currently trading around $1166 levels.
     
  • It made intraday high at $1173 and low at $1164 levels.
     
  • A break of $1174 levels will take the parity towards $1200 levels.
     
  • Alternatively, a reversal from Friday's high ($1174.42) brings the parity below $1150 marks.
     
  • Initial support levels are seen around $1162, $1157 and $1142 thereafter.
     
  • On the top side resistance levels are seen at $1174, $1182 and $1192 thereafter.

    We maintain our bullish bias. We prefer to take long position on XAU/USD around $1163, stop loss $1145 and target $1191 and $1200 levels.

 

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