#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.72226, which is in line with horizontal overlap resistance. A reversal from this level may see price take resistance at price 0.73102. This level coincides with 61.8% Fibonacci retracement level. Finally, we can expect price to take support at 0.71049horizontal swing low support & 127.2% Fibonacci extension level . This is further supported by how price is likely to bounce off the RSI support level .
Pivot:
0.72226
Why we like it:
horizontal overlap resistance
1st Support:
0.71049
Why we like it:
horizontal swing low support & 127.2% Fibonacci extension level
1st Resistance:
0.73102
Why we like it:
61.8% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
0.72226
Why we like it:
horizontal overlap resistance
1st Support:
0.71049
Why we like it:
horizontal swing low support & 127.2% Fibonacci extension level
1st Resistance:
0.73102
Why we like it:
61.8% Fibonacci retracement level
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.