FX.co ★ XAU/USD Approaching Support, Prepare For A Bounce

XAU/USD is approaching its support at 1233.53 (61.8% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1245.25 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.

XAU/USD is approaching its support where we expect to see a bounce.

Buy above 1233.53. Stop loss at 1226.09. Take profit at 1245.25.