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Gold surpasses all the hurdles and supported well above $1140 levels.
- Pair made intraday high at $1143 and low at $1139 levels.
- Overall outlook remains bullish above $1132 levels and it is likely to hit $1150 levels in near future.
- A reversal from yesterday's high may bring some corrections around $ 1137 levels.
- On the top side, resistance levels are seen around $1142, $1152 and $1182 thereafter.
- On the other side, support levels are falls around $1137, $1132 and $1127 thereafter.
- The latest US economic data were mixed yesterday with the ADP private payrolls report showing positive results but ISM manufacturing PMI released with negative data.
- The main event for the week is NFP job data due tomorrow, which will give clear picture on further directions of the US dollar.
We maintain our bullish outlook on Gold. We prefer to take long position on XAU/USD around $1137, stop loss $1127 and target $1152 levels.
