#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.73228, which is in line with 78.6% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.7387. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.7212850.0% Fibonacci retracement levelhorizontal swing low support . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.73228
Why we like it:
78.6% Fibonacci retracement level
1st Support:
0.72128
Why we like it:
50.0% Fibonacci retracement level horizontal swing low support
1st Resistance:
0.73870
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.73228
Why we like it:
78.6% Fibonacci retracement level
1st Support:
0.72128
Why we like it:
50.0% Fibonacci retracement level horizontal swing low support
1st Resistance:
0.73870
Why we like it:
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.