AUDUSD reversing from our Pivot point, potential for a drop!
Description
Price is reversing from our Pivot point of 0.76015, which is in line with our 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75145, in line with 61.8% and 50% fibonacci retracement.
Pivot: 0.76015
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance
1st Support: 0.75145
Why we like it:
61.8% and 50% fibonacci retracement
1st Resistance: 0.76404
Why we like it:
127% Fibonacci extension and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot point of 0.76015, which is in line with our 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75145, in line with 61.8% and 50% fibonacci retracement.
Pivot: 0.76015
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance
1st Support: 0.75145
Why we like it:
61.8% and 50% fibonacci retracement
1st Resistance: 0.76404
Why we like it:
127% Fibonacci extension and -27% fibonacci retracement
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.