#AUDUSD approaching pivot, potential for rise!
Price has broken above our pivot level at 0.72937 which is in line with 61.8% Fibonacci extension level & horizontal overlap support . We could potentially see a further rise from here towards 0.738, which coincides with horizontal overlap resistance. Finally, we can expect price to take support at 0.72325, which coincides with 100% Fibonacci extension level and horizontal overlap resistance . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.72937
Why we like it:
61.8% Fibonacci extension level & horizontal overlap support
1st Support:
0.72325
Why we like it:
100% Fibonacci extension levelhorizontal overlap resistance
1st Resistance:
0.73800
Why we like it:
horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
0.72937
Why we like it:
61.8% Fibonacci extension level & horizontal overlap support
1st Support:
0.72325
Why we like it:
100% Fibonacci extension levelhorizontal overlap resistance
1st Resistance:
0.73800
Why we like it:
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.