XAUUSD is approaching our first support at 1286.39 (horizontal swing low support, 61.8% Fibonacci retracement). A strong bounce might occur above this level pushing price up to our major resistance at 1301.80 (horizontal swing high resistance, 61.8 % Fibonacci extension). Stochastic is also approaching support and seeing a bullish divergence in line with our bullish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.