XAUUSD approaching support, potential bounce!
XAUUSD is testing our first support at 1310.48 (horizontal overlap support, breakout level). A strong bounce might occur above this level, pushing price up to our major resistance at 1325.87 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement). A breakout above our intermediate resistance at 1318.17 (horizontal swing high resistance, 23.6% Fibonacci retracement) might provide the bullish acceleration to our major resistance level.
RSI is also seeing a bullish exit and we might see a corresponding rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI is also seeing a bullish exit and we might see a corresponding rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Feragatname
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