Price is approaching pivot level of 0.7353 where we have 88% Fibonacci retracement level lining up. A reversal from this level might see price take support at 0.7227, which is in line with 50.0% Fibonacci retracement level horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 0.74202, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.73530
Why we like it:
88% Fibonacci retracement level
1st Support:
0.72270
Why we like it:
50.0% Fibonacci retracement level horizontal swing low support
1st Resistance:
0.74202
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.73530
Why we like it:
88% Fibonacci retracement level
1st Support:
0.72270
Why we like it:
50.0% Fibonacci retracement level horizontal swing low support
1st Resistance:
0.74202
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.