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Pair is well supported around $1126 marks, made intraday high at $1128 and low at $1125 levels.
- Intraday bias remains neutral below $1128 marks.
- A break of $1132 will confirm the bullish trend and may drive the parity above $1150 levels.
- Initial resistance levels are seen around $1128, $1132 and $1142 thereafter.
- On the other side, support levels are seen at $1122, $1117 and $1112 thereafter.
We prefer to take advantage of trend reversal. Go Short on XAU/USD around $1127, stop loss $1131 and target $1118 levels.
