#AUDUSD approaching pivot, potential for a bounce! Description
Description
Price is approaching pivot level of 0.7092, which is in line with horizontal swing low support. A reversal from this level may see price rise to 1st resistance at price 0.71826. This level coincides with 61.8% Fibonacci retracement level and horizontal overlap resistance. Alternatively, we may see price break pivot structure and drop to 1st support at 0.70651 in line with the 127.2% Fibonacci extension level and horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.70920
Why we like it:
horizontal swing low support
1st Support:
0.70651
Why we like it:
127.2% Fibonacci extension level and horizontal overlap support
1st Resistance:
0.71826
61.8% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.7092, which is in line with horizontal swing low support. A reversal from this level may see price rise to 1st resistance at price 0.71826. This level coincides with 61.8% Fibonacci retracement level and horizontal overlap resistance. Alternatively, we may see price break pivot structure and drop to 1st support at 0.70651 in line with the 127.2% Fibonacci extension level and horizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.70920
Why we like it:
horizontal swing low support
1st Support:
0.70651
Why we like it:
127.2% Fibonacci extension level and horizontal overlap support
1st Resistance:
0.71826
61.8% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.