ICmarkets

XAUUSD Approaching Support, Potential Bounce!

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is approaching its support at 1283.90 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 1296.27 (50% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.

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