XAUUSD approaching support, potential bounce!
XAUUSD is approaching our first support at 1286.39 (horizontal swing low support, 61.8% Fibonacci retracement). A strong bounce might occur above this level pushing price up to our major resistance at 1301.80 (horizontal swing high resistance, 61.8 % Fibonacci extension).
Stochastic is also approaching support and seeing a bullish divergence in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also approaching support and seeing a bullish divergence in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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