XAUUSD is approaching our first support at 1283.81 (horizontal swing low support, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 0.6866 (horizontal overlap resistance, 61.8% Fibonacci retracement). Stochastic is also approaching support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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