easyMarkets
Long

XAUUSD approaching support, potential bounce!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
XAUUSD is approaching our first support at 1234.27 (horizontal overlap support, 61.8% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 1243.90 (horizontal swing high resistance).
RSI (89) is also seeing a bullish exit and we might see a corresponding bounce in price.
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