- Pair is currently trading at $1233 marks.
- It made intraday high at $1248 and low at $1232.77 levels.
- Yesterday gold made high of $1263 marks.
- Today gold gave more than $15 movement in Asian hours.
- Intraday bias remains neutral for the moment.
- Later today US will release retail sales data as well as UoM consumer sentiment data, which will provide further long term direction to the parity.
- Initial resistance levels are seen at $1238, $1245 and $1262 thereafter.
- On the down side, support levels are seen at $1231, $1228 and $1222.
We prefer to take long position in XAU/USD around $1232, stop loss $1227 and target $1250.
