FxWirePro: Gold Remains supported Above $1250 in Asian Hours, Good to Buy on Dips
- XAU/USD is currently trading around $1254 mark.
- It made intraday high at $1257 and low at $1249 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $1242 marks.
- A daily close above $1257 is required to take the parity up towards $1270 marks again.
- On the top side, key resistances are seen around $1257, $1262 and $1272 levels.
- Alternatively, a sustained break below $1237 will drag the parity down towards key support levels at $1227, $1222 and $1212 marks respectively.
We prefer to take long position in XAU/USD only above $1252, stop loss $1242 and target $1268 marks.