#AUDUSD, H4 is approaching our Pivot. Potential for a drop.
Price is reversing from our Pivot point at 0.77244, in line with 38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76711, in line with 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the descending trendline and MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.77244
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.76711
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77474
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77244
Why we like it:
38.2% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.76711
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77474
Why we like it:
61.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical swing high
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.