FX.co ★ XAUUSD, Daily | Bounce off 1st support?

The Gold to US Dollar pair (XAU/USD) is currently on a bullish trend, with prices above a significant rising trendline indicating potential further upward movement. The first support level at 1935.46, which is the 50% Fibonacci retracement level, and the second support at 1859.67, aligning with the 78.60% Fibonacci level, could attract buyers to prevent further price drops. Meanwhile, resistance levels at 1958.33 and 2004.24, associated with overlap and pullback resistance respectively, could pose challenges for continued bullish momentum.