AUDUSD, H4 reversed from our Pivot point, potential for drop.
Price has reversed from our Pivot point at 0.77632, in line with 38.2%, 61.8% Fibonacci retracement and 127% fibonacci extension. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76489, a fibonacci confluence area. It is worth noting that price is attempting to break out of the Ichimoku cloud resistance and MACD is under the 0 line, in line with our analysis.
Pivot: 0.77632
Why we like it:
38.2%, 61.8% Fibonacci retracement and 127% fibonacci extension.
1st Support: 0.76489
Why we like it:
88% Fibonacci retracement, 100% and 161.8% fibonacci extension.
1st Resistance: 0.78226
Why we like it:
78.6% fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77632
Why we like it:
38.2%, 61.8% Fibonacci retracement and 127% fibonacci extension.
1st Support: 0.76489
Why we like it:
88% Fibonacci retracement, 100% and 161.8% fibonacci extension.
1st Resistance: 0.78226
Why we like it:
78.6% fibonacci retracement and horizontal swing high resistance.
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.