FX.co ★ XAUUSD Day | Bouncing off 161.8% extension?

The XAUUSD chart displays weak bullish momentum. The chart may see a bullish bounce at the 1st support of 1872.93, which is crucial due to its alignment with the 161.80% Fibonacci Extension, moving towards the 1st resistance at 1888.14. The 2nd support at 1855.60 is a key level, backed by a 78.60% Fibonacci Retracement. Both the 1st and 2nd resistances (1888.14 and 1903.51) act as barriers to price increases, serving as pullback resistances.