#XAUUSD is at trendline resistance, potential for a pullback

Price is reaction insde our pivot level at 1,816.07 which is in line with -27.2% Fibonacci retracement level, 61.8% Fibonacci extension level and trendline resistance. Price could potentially drop towards support at 1,800 which is in-line with 23.6% Fibonacci retracement level, 78.6% Fibonacci extension level and ascending trendline support. RSI is also at resistance level where previous drops occurred.
Alternatively, price may swing towards our resistance at 1,838, which coincides with -61.8% Fibonacci retracement level and 78.6% Fibonacci extension level.

Pivot:
1,816.07

Why we like it:
-27.2% Fibonacci retracement level, 61.8% Fibonacci extension level and descending trendline resistance

1st Support:
1,800
23.6% Fibonacci retracement level, 78.6% Fibonacci extension level and ascending trendline support

1st Resistance:
1,838
-61.8% Fibonacci retracement level and 78.6% Fibonacci extension level

Trading FX & CFDs carries high risk