#XAUUSD approaching pivot, potential for rise!
Price has broken above our pivot level at 1868.5 which is in line with l & horizontal swing high resistance . We could potentially see a further rise from here towards 1900.92, which coincides with & horizontal overlap resistance. Finally, we can expect price to take support at 1833.85, which coincides with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1,868.50
Why we like it:
l & horizontal swing high resistance
1st Support:
1,833.850
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal overlap support
1st Resistance:
1,900.920
& horizontal overlap resistance
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