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- XAU/USD is currently trading around $1248 mark.
- It made intraday high at $1251 and low at $1242 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $1242 marks.
- A daily close above $1252 is required to take the parity up towards $1268 marks again.
- On the top side, key resistances are seen around $1252, $1257 and $1262 levels.
- Alternatively, a sustained break below $1242 will drag the parity down towards key support levels at $1237, $1227, $1222 and $1212 marks respectively.
We prefer to take long position in XAU/USD around $1248, stop loss $1242 and target $1262 marks.
