#AUDUSD, H4 is testing our Pivot. Potential for a drop.
Price is testing our Pivot point at 0.75449, in line with 23.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.74623, in line with 241.4% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low. It's worth noting that MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.75449
Why we like it:
23.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.74623
Why we like it:
241.4% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low
1st Resistance: 0.76245
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Pivot: 0.75449
Why we like it:
23.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.74623
Why we like it:
241.4% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low
1st Resistance: 0.76245
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.