FxWirePro: Gold Remains supported Above $1250 in Asian Hours, Good to Buy on Dips

FxWirePro: Gold Remains supported Above $1250 in Asian Hours, Good to Buy on Dips

20 April 2016, 06:08
Roberto Jacobs
0
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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.

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