AUDUSD, H4 reversed from our Pivot point, potential for a drop.
Description
Price has reversed from our Pivot point of 0.76521, which is in line with our 78.6%, 61.8%, 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 0.75446, in line with -27%, -27%, 78.6% fibonacci retracement and horizontal swing-low resistance. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.76521
Why we like it:
78.6%, 61.8%, 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.75446
Why we like it:
-27%, -27%, 78.6% fibonacci retracement and horizontal swing-low resistance
1st Resistance: 0.77084
Why we like it:
61.8% fibonacci retracement, 127 fibonacci extension and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Price has reversed from our Pivot point of 0.76521, which is in line with our 78.6%, 61.8%, 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap, where we could see a potential drop from this level to our first support level of 0.75446, in line with -27%, -27%, 78.6% fibonacci retracement and horizontal swing-low resistance. It is noteworthy that price is trending under the Ichimoku cloud and MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.76521
Why we like it:
78.6%, 61.8%, 50% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.75446
Why we like it:
-27%, -27%, 78.6% fibonacci retracement and horizontal swing-low resistance
1st Resistance: 0.77084
Why we like it:
61.8% fibonacci retracement, 127 fibonacci extension 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.