XAUUSD has rejected two fibonacci levels according to my analysis on D1. It has rejected the 0.382 and 0.283 levels from that bearish impulse last week. For now, the bears look in control, but if the pair remains above that minor support (the orange shaded area), then it will prove to be strong support and it should go up for another retest of the 0.382 fibonacci level.
Failure to close above that minor support, then it might be headed for the monthly test of the 0.382 fibonacci level. Remember Gold is still relatively bullish on from a monthly perspective.
Failure to close above that minor support, then it might be headed for the monthly test of the 0.382 fibonacci level. Remember Gold is still relatively bullish on from a monthly perspective.