XAUUSD near key support, could possibly bounce!
XAUUSD is approaching our first support at 1266.86 (horizontal swing low support, 61.8% Fibonacci extension , 50% Fibonacci retracement ) where a strong bounce might occur pushing the price up to our major resistance at 1302.26(horizontal swing low support, , 61.8% Fibonacci retracement, 100% Fibonacci extension ). Stochastic is also approaching support.
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