#AUDUSD approaching pivot, potential for a bounce!
Description
Price is approaching pivot level of 0.71433, which is in line with 50.0% Fibonacci retracement level and horizontal overlap support. A reversal from this level may see price take resistance at price 0.72742. This level coincides with 50.0% Fibonacci retracement level and horizontal overlap resistance. Finally, we can expect price to take support at 0.70907horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.71433
Why we like it:
50.0% Fibonacci retracement level and horizontal overlap support
1st Support:
0.70907
Why we like it:
horizontal swing low support
1st Resistance:
0.72742
Why we like it:
50.0% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.71433, which is in line with 50.0% Fibonacci retracement level and horizontal overlap support. A reversal from this level may see price take resistance at price 0.72742. This level coincides with 50.0% Fibonacci retracement level and horizontal overlap resistance. Finally, we can expect price to take support at 0.70907horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.71433
Why we like it:
50.0% Fibonacci retracement level and horizontal overlap support
1st Support:
0.70907
Why we like it:
horizontal swing low support
1st Resistance:
0.72742
Why we like it:
50.0% Fibonacci retracement level and horizontal overlap 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.