XAUUSD is facing bearish pressure from pivot, potential downside

Price is facing bearish pressure from our pivot, in line with the horizontal swing pullback resistance, 23.6% fibonacci retracement and 61.8% fibonacci extension where we could see a further drop below this level to our first support target. Failure to hold below the pivot level could see prices swing towards our first resistance target at 174186.

Pivot: 1767.79
Supporting Points:
horizontal swing pullback resistance, 23.6% fibonacci retracement and 61.8% fibonacci extension

1st Support: 1741.86
Supporting Points:
78.6% fibonacci extension

1st Resistance: 1786.07
Supporting Points:
horizontal pullback resistance, 50% fibonacci retracement

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