#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.7338, which is in line with 38.2% Fibonacci retracement levelhorizontal swing low support. A reversal from this level may see price take resistance at price 0.7479. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.7277550.0% Fibonacci retracement level . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.73380
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing low support
1st Support:
0.72775
Why we like it:
50.0% Fibonacci retracement level
1st Resistance:
0.74790
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.73380
Why we like it:
38.2% Fibonacci retracement levelhorizontal swing low support
1st Support:
0.72775
Why we like it:
50.0% Fibonacci retracement level
1st Resistance:
0.74790
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.