AUDUSD facing bearish pressure, potential for further downside!
Prices are facing bearish pressure from pivot level which is in line with horizontal pullback resistance, 50% Fibonacci retracement, and 78.6% Fibonacci extension. Prices might push down towards 1st support which is horizontal pullback support, in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. If prices push up, prices might face resistance from horizontal swing high resistance in line with 161.8% Fibonacci extension. EMA is also above prices, showing bearish pressure for prices.
Pivot: 0.77505
Why we like it:
Horizontal pullback resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 0.76594
Why we like it:
Horizontal pullback support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement
1st Resistance: 0.78159
Why we like it:
Horizontal swing high resistance, 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 0.77505
Why we like it:
Horizontal pullback resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 0.76594
Why we like it:
Horizontal pullback support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement
1st Resistance: 0.78159
Why we like it:
Horizontal swing high resistance, 161.8% Fibonacci extension
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.