#AUDUSD facing bearish pressure, potential downside!
Description
Price is reacting below our pivot level at 0.75386 which is in line with 61.8% Fibonacci retracement level, 38.2% Fibonacci extension level and horizontal overlap resistance. Price can potentially take support at 0.74762, which is in line with 127.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 0.76143, which coincides with 161.8% Fibonacci extension level . This is further supported by how price is holding below the EMA.
Pivot:
0.75386
Why we like it:
61.8% Fibonacci retracement level, 38.2% Fibonacci extension levelhorizontal overlap resistance
1st Support:
0.75
127.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.76143
161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.75386 which is in line with 61.8% Fibonacci retracement level, 38.2% Fibonacci extension level and horizontal overlap resistance. Price can potentially take support at 0.74762, which is in line with 127.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 0.76143, which coincides with 161.8% Fibonacci extension level . This is further supported by how price is holding below the EMA.
Pivot:
0.75386
Why we like it:
61.8% Fibonacci retracement level, 38.2% Fibonacci extension levelhorizontal overlap resistance
1st Support:
0.75
127.2% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.76143
161.8% Fibonacci extension 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.