FxWirePro: Gold Turns Higher During Asian Hours, Good to Buy on Dips

FxWirePro: Gold Turns Higher During Asian Hours, Good to Buy on Dips

• XAU/USD is currently trading around $1248 mark. 
• It made intraday high at $1256 and low at $1237 levels. 
• Intraday bias remains bullish till the time pair holds immediate support at $1239 marks. 
• A sustained close above $1252 will take the parity up towards $1270 marks again. 
• On the top side, key resistances are seen around $1252, $1257, $1262 and $1270 levels. 
• Alternatively, a sustained close below $1242 will drag the parity down towards key support levels at $1237, $1232 and $1227 marks respectively.

We prefer to take long position in XAU/USD only above $1252, stop loss $1239 and target $1270 marks.

The material has been provided by InstaForex Company - www.instaforex.com