XAUUSD reacted off our first resistance at 1348.66 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong drop might occur below this level, pushing price down to our major support at 1332.49 (horizontal swing low support, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (34,5,3) has also reacted off our major resistance which might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.