FxWirePro: Gold range bound in Asia, NFP job data in focus

• XAU/USD is currently trading around $1230 mark.
   
• It made intraday high at $1234 and low at $1229 levels.
   
• Intraday bias remains neutral till the time pair holds key support at $1222 marks.
   
• On the top side, initial resistance is seen at $1240 mark.
   
• Expected trading range for the day is $1223- $1240 marks.


• A daily close above $1232 is required to turn the bias bullish again.
   
• On the top side, key resistances are seen around $1232, $1247 and $1252 levels.
   
• Alternatively, a sustained break below $1220 will drag the parity down towards key support levels at $1215, $1212 and $1202 marks.
   
• U.S. released ADP job data with flat numbers at 200K vs 195K expected.
   
• Later today, US will release NFP job data. Market expects 206K release vs 242K previous release.

We prefer to take long position in XAU/USD around $1227, stop loss $1223 and target $1232/$1247 levels.