AUDUSD, H4 is approaching our Pivot point, potential for a drop.
Description
Price is approaching our Pivot point of 0.75928, which is in line with our 78.6%, -27% Fibonacci retracement and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75549, in line with 50% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. It is noteworthy that price is trending under a tentative descending trendline, in line with our bearish view.
Pivot: 0.75928
Why we like it:
78.6%, -27% Fibonacci retracement and horizontal graphical resistance
1st Support: 0.75549
Why we like it:
50% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76256
Why we like it:
78.6% Fibonacci extension and horizontal graphical resistance.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.75928, which is in line with our 78.6%, -27% Fibonacci retracement and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75549, in line with 50% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. It is noteworthy that price is trending under a tentative descending trendline, in line with our bearish view.
Pivot: 0.75928
Why we like it:
78.6%, -27% Fibonacci retracement and horizontal graphical resistance
1st Support: 0.75549
Why we like it:
50% fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76256
Why we like it:
78.6% Fibonacci extension and horizontal graphical 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.