FXWIREPRO: Gold Hovers Around Key Support at $1252, Good to Buy on Dips

FXWIREPRO: Gold Hovers Around Key Support at $1252, Good to Buy on Dips

13 April 2016, 07:09
Roberto Jacobs
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FXWIREPRO: Gold Hovers Around Key Support at $1252, Good to Buy on Dips

  • XAU/USD is currently trading around $1252 mark. 
  • It made intraday high at $1256 and low at $1251 levels. 
  • Intraday bias remains bullish till the time pair holds key support at $1248 marks. 
  • A daily close above $1258 is required to take the parity up towards $1272 marks. 
  • On the top side, key resistances are seen around $1258, $1262 and $1267 levels. 
  • Alternatively, a sustained break below $1248 will drag the parity down towards key support levels at $1232, $1227, $1212 and $1190 marks respectively.

We prefer to take long position in XAU/USD at $1250, stop loss $1248 and target $1268 marks.

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



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