Fxwirepro: Gold Back Above $1220 After Fomc Minutes

XAU/USD is currently trading around $1224 mark.
It made intraday high at $1226 and low at $1222 levels.
FOMC March meeting minutes failed to provide any hints regarding further interest rate hike.
According to the March minutes, several expressed the view that a cautious approach for raising interest rates would be prudent.
On the other side, some other participants indicated that an increase in the federal funds rate at the April meeting might well be warranted if economic data matches with the expectations.
Even though the April rate hike is still unlikely as it puts more pressure on the June meeting.
The central bank now expects future rate hikes to be more gradual, estimating only two 0.25-percentage-point increases, instead of the four projected earlier in December.
Intraday bias remains bullish till the time pair holds key support at $1215 marks.
A daily close above $1232 is required to turn the bias bullish again.
On the top side, key resistances are seen around $1232, $1247 and $1252 levels.
Alternatively, a sustained break below $1222 will drag the parity down towards key support levels at $1214, $1208, $1202 and $1190 marks.