#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.72496, which is in line with 78.6% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.73758. This level coincides with 61.8% Fibonacci retracement level. Finally, we can expect price to take support at 0.72202horizontal swing low support . This is further supported by how price is likely to bounce off the RSI support level .
Pivot:
0.72496
Why we like it:
78.6% Fibonacci retracement level
1st Support:
0.72202
Why we like it:
horizontal swing low support
1st Resistance:
0.73758
Why we like it:
61.8% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
0.72496
Why we like it:
78.6% Fibonacci retracement level
1st Support:
0.72202
Why we like it:
horizontal swing low support
1st Resistance:
0.73758
Why we like it:
61.8% Fibonacci retracement 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.