XAU/USD intraday outlook

• Pair is currently trading at $1223 levels.
   
• It made intraday high at $1226 levels and low at $1215 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $1228 levels.
   
• A daily close above $1232 is required to confirm the bullish bias.
   
• On the top side key resistance falls at $1242 marks.
   
• Alternatively, reversal from $1226 will drag the parity below $1218 levels.
   
• Key resistance levels are seen at $1228, $1232 and $1242 thereafter.
   
• Key support levels are falls at $1222, $1217 and $1212 levels.

We prefer to take long position in XAU/USD around $1220, stop loss $1210 and target $1232/$1242 thereafter.