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Gold Spot / U.S. Dollar
Long

XAUUSD Approaching Support, Potential Bounce

By ICmarkets
Broker
XAUUSD is approaching its support at 1211.93 (50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1238.06 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 7% where a corresponding bounce could occur.

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ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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