#AUDUSD approaching pivot, potential for a bounce!
Description
Price is approaching pivot level of 0.72215, which is in line with 38.2% Fibonacci retracement levelhorizontal swing high resistance. A reversal from this level may see price take resistance at price 0.71986. This level coincides with 78.6% Fibonacci retracement level. Finally, we can expect price to take support at 0.7297938.2% Fibonacci retracement level & horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.72215
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.72979
Why we like it:
38.2% Fibonacci retracement level & horizontal swing high resistance
1st Resistance:
0.71986
Why we like it:
78.6% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.72215, which is in line with 38.2% Fibonacci retracement levelhorizontal swing high resistance. A reversal from this level may see price take resistance at price 0.71986. This level coincides with 78.6% Fibonacci retracement level. Finally, we can expect price to take support at 0.7297938.2% Fibonacci retracement level & horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.72215
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.72979
Why we like it:
38.2% Fibonacci retracement level & horizontal swing high resistance
1st Resistance:
0.71986
Why we like it:
78.6% 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.