#AUDUSD approaching pivot, potential for a bounce!
Price is at pivot level of 0.73380, which is in-line with 38.2% Fibonacci retracement level, 78.6% Fibonacci extension level and 200MA. Price could potentially swing towards resistance at 0.74790 which coincides with 100% Fibonacci retracement level and 61.8% Fibonacci extension level.
Alternatively, price could potentially drop to support level at 0.72775 which coincides with 50% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.73380
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level and 200MA
1st Support:
0.72775
Why we like it:
50% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Resistance:
0.74790
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could potentially drop to support level at 0.72775 which coincides with 50% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot:
0.73380
Why we like it:
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level and 200MA
1st Support:
0.72775
Why we like it:
50% Fibonacci retracement level and 127.2% Fibonacci extension level
1st Resistance:
0.74790
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension 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.