XAUUSD is approaching our first support at 1283.93 (horizontal swing low support, 61.8% Fibonacci extension ) where a strong bounce might occur to our first resistance at 1300.42 (61.8% Fibonacci extension , 61.8% Fibonacci retracement ).
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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