XAUUSD is facing bullish pressure from our pivot

Price is facing bullish pressure from our pivot, in line with our graphical pullback support and 23.6% fibonacci retracement as well as ascending channel where we could see a bounce above this level to our resistance level at 1897.56. Failure to hold above our pivot level at 1856.04 could see a swing towards our first support target at 1831.12. 50 EMA is showing signs of bullish pressure as well in line with our bullish bias.

Pivot: 1856.04
Supporting Points:
graphical pullback support, 23.6% fibonacci retracement, ascending channel support

1st Support: 1831.12
Supporting Points:
Graphical swing low support, 61.8% Fibonacci retracement

1st Resistance: 1897.56
Supporting Points:
graphical pullback resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension
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