FXWIREPRO: Gold Hovers Around Key Support at $1252, Good to Buy on Dips

FXWIREPRO: Gold Hovers Around Key Support at $1252, Good to Buy on Dips

• XAU/USD is currently trading around $1252 mark. 
• It made intraday high at $1256 and low at $1251 levels. 
• Intraday bias remains bullish till the time pair holds key support at $1248 marks. 
• A daily close above $1258 is required to take the parity up towards $1272 marks. 
• On the top side, key resistances are seen around $1258, $1262 and $1267 levels. 
• Alternatively, a sustained break below $1248 will drag the parity down towards key support levels at $1232, $1227, $1212 and $1190 marks respectively.
  

We prefer to take long position in XAU/USD at $1250, stop loss $1248 and target $1268 marks.

The material has been provided by InstaForex Company - www.instaforex.com