#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.74188, which is in line with 23.6% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.74796. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.7383938.2% Fibonacci retracement level . This is further supported by how price is now holding above the EMA .
Pivot:
0.74188
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.73839
Why we like it:
38.2% Fibonacci retracement level
1st Resistance:
0.74796
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.74188
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.73839
Why we like it:
38.2% Fibonacci retracement level
1st Resistance:
0.74796
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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