#AUDUSD approaching pivot, potential for rise!
Description
Price has broken above our pivot level at 0.74893 which is in line with 38.2% Fibonacci retracement level & horizontal swing high resistance . We could potentially see a further rise from here towards 0.75472, which coincides with 61.8% Fibonacci extension levelhorizontal swing high resistance. Finally, we can expect price to take support at 0.7455, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.74893
Why we like it:
38.2% Fibonacci retracement level & horizontal swing high resistance
1st Support:
0.74550
Why we like it:
horizontal swing low support
1st Resistance:
0.75472
Why we like it:
61.8% Fibonacci extension levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 0.74893 which is in line with 38.2% Fibonacci retracement level & horizontal swing high resistance . We could potentially see a further rise from here towards 0.75472, which coincides with 61.8% Fibonacci extension levelhorizontal swing high resistance. Finally, we can expect price to take support at 0.7455, which coincides with horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.74893
Why we like it:
38.2% Fibonacci retracement level & horizontal swing high resistance
1st Support:
0.74550
Why we like it:
horizontal swing low support
1st Resistance:
0.75472
Why we like it:
61.8% Fibonacci extension levelhorizontal 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.