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