#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.72373, which is in line with 23.6% Fibonacci retracement level & moving average support. A reversal from this level may see price take resistance at price 0.73234. This level coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 0.7169961.8% Fibonacci retracement level . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.72373
Why we like it:
23.6% Fibonacci retracement level & moving average support
1st Support:
0.71699
61.8% Fibonacci retracement level
1st Resistance:
0.73234
78.6% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
0.72373
Why we like it:
23.6% Fibonacci retracement level & moving average support
1st Support:
0.71699
61.8% Fibonacci retracement level
1st Resistance:
0.73234
78.6% Fibonacci retracement levelhorizontal 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.