#AUDUSD, H4 is testing our Pivot. Potential for a drop.
Price is testing our Pivot point at 0.77080, in line with 88.6% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76157, in line with 127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. It's worth noting that price is under the ichimoku cloud resistance and MACD is under the 0 line, in line with our bearish analysis.
Pivot: 0.77080
Why we like it:
88.6% fibonacci retracement and horizontal graphical overlap
1st Support: 0.76157
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77917
Why we like it:
127% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77080
Why we like it:
88.6% fibonacci retracement and horizontal graphical overlap
1st Support: 0.76157
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77917
Why we like it:
127% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
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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.