XAUUSD is approaching pivot, potential for a bounce.

Price is approaching our pivot, which is in line with our graphical overlap support, 100% Fibonacci extension and 76.4% Fibonacci retracement. We see a medium probability bullish scenario above our pivot at 1811.46, with 1st resistance at 1897.56 as a possible target. Failure to hold above pivot would see price swing the other way towards 1st support at 1764.70. Stochastic is facing bullish pressure from our support at 5.00 as well.

Pivot: 1811.46
Supporting Points:
graphical overlap support, 100% Fibonacci extension and 76.4% Fibonacci retracement.

1st Support: 1764.70
Supporting Points:
Graphical swing low support

1st Resistance: 1897.56
Supporting Points:
61.8% Fibonacci retracement, 100% Fibonacci extension and graphical pullback resistance
Trading FX & CFDs carries high risk.