XAUUSD bounced from our Pivot, potential for a rise.

Description
Price is breaking above our Pivot point at 1826.52, which is in line with 50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1855.49, which is in line with 127% fibonacci retracement and 61.8% fibonacci extension . Its worth noting that price is above the ascending trendline and Ichimoku cloud support, MACD is also above the 0 line, all indicators are in line with our bullish analysis.

Pivot: 1826.52
Why we like it:
50% fibonacci retracement , 61.8% fibonacci extension and ichimoku cloud support

1st Support: 1808.87
Why we like it:
50% fibonacci retracement , 127% fibonacci extension and horizontal graphical overlap.

1st Resistance: 1855.49
Why we like it:
127% fibonacci retracement and 61.8% fibonacci extension

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