#AUDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is approaching our Pivot point at 0.76809, in line with 23.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76215, in line with 88.6%, 127%, -27% fibonacci retracement and horizontal graphical swing low. 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: 0.76809
Why we like it:
23.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 0.76215
Why we like it:
88.6%, 127%, -27% fibonacci retracement and horizontal graphical swing low
1st Resistance: 0.77328
Why we like it:
78.6% fibonacci retracement and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.76809
Why we like it:
23.6% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
1st Support: 0.76215
Why we like it:
88.6%, 127%, -27% fibonacci retracement and horizontal graphical swing low
1st Resistance: 0.77328
Why we like it:
78.6% fibonacci retracement 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.