- XAU/USD is currently trading around $1217 mark.
- It made intraday high at $1223 and low at $1214 levels.
- A series of comments from Fed officials urging for another increase in interest rates has caused a confidence recovery among investors.
- Intraday bias remains neutral for the moment
- Current rebound from $1260 will take the parity down towards key support levels at $1212/$1208/$1202 marks respectively.
- A daily close above $1228 will turn the bias slightly bullish and take the parity towards key resistances around $1232, $1247 and $1252 levels.
We prefer to take long position in XAU/USD around $1216, stop loss $1210 and target $1228/$1232 marks.
The material has been provided by InstaForex Company – www.instaforex.com