XAUUSD reversed off its resistance at 1767.712 where it could potentially drop further to 1666.854. Price is approaching our first resistance, in line with our 127.2% fibonacci retracement and 100% fibonacci extension where we could see a drop to our first support level . Stochastic is approaching resistance as well where we might see a reversal below this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.