#AUSDUSD is approaching pivot, potential for bounce
Price is approaching our pivot level at 0.70985 which is in line with -61.8% Fibonacci retracement level and 100% Fibonacci extension level. Price could potentially bounce towards resistance at 0.72100 which is in line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA. Stochastic is also at support level where previous bounces occurred.
Alternatively, price may drop towards support at 0.70338, which coincides with -27.2% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.70985
Why we like it:
-61.8% Fibonacci retracement level and 100% Fibonacci extension level
1st Support:
0.70338
-27.2% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Resistance:
0.72100
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
Trading FX & CFDs carries high risk.
Alternatively, price may drop towards support at 0.70338, which coincides with -27.2% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.70985
Why we like it:
-61.8% Fibonacci retracement level and 100% Fibonacci extension level
1st Support:
0.70338
-27.2% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Resistance:
0.72100
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA
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.