- Pair is currently trading around $1253 levels.
- It made intraday high at $1264 and low at $1251 levels.
- Intraday bias remains bearish for the moment.
- A daily close below $1237 will drag the parity around $1218 and $1208 marks thereafter.
- Alternatively, reversal will take the parity back above $1278/ $1292 levels.
We prefer to take long position in XAU/USD around $1250, stop loss $1237 and targets $1262/$1278 levels.
The material has been provided by InstaForex Company – www.instaforex.com