#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
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