AUDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is reversing from our Pivot point at 0.77320, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76752, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Do note that price is under the Ichimoku cloud and MACD is under 0 line, in line with our bearish analysis.
Pivot: 0.77320
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.76752
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77653
Why we like it:
127% fibonacci extension, Ichimoku cloud resistance and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77320
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.76752
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77653
Why we like it:
127% fibonacci extension, Ichimoku cloud resistance and horizontal swing high
Trading FX & CFDs carries high risk.
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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.