- XAU/USD is currently trading around $1293 mark.
- It made intraday high at $1296 and low at $1289 levels.
- Intraday bias remains bullish till the time pair holds immediate support at $1287 marks.
- A daily close above $1296 will take the parity up towards $1307, $1315 and $1327 marks respectively.
- Alternatively, reversal from key resistance $1303 will drag the parity down towards key support levels at $1287, $1282 and $1272 marks respectively.
We prefer to take long position in XAU/USD around $1292, stop loss $1285 and target $1307/$1315 marks.
The material has been provided by InstaForex Company – www.instaforex.com