AUDUSD, H4 has reversed from our Pivot. Potential for a drop.
Price has reversed from our Pivot point at 0.77551, in line with 61.8% Fibonacci extension and horizontal swing high resistance. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76526, in line with 61.8% fibonacci retracement, 127% fibonacci extension and descending trendline support.
Pivot: 0.77551
Why we like it:
61.8% Fibonacci extension and horizontal swing high resistance
1st Support: 0.76526
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and descending trendline support
1st Resistance: 0.78278
Why we like it:
127% Fibonacci extension.
Trading FX & CFDs carries high risk.
Pivot: 0.77551
Why we like it:
61.8% Fibonacci extension and horizontal swing high resistance
1st Support: 0.76526
Why we like it:
61.8% fibonacci retracement, 127% fibonacci extension and descending trendline support
1st Resistance: 0.78278
Why we like it:
127% Fibonacci extension.
Trading FX & CFDs carries high risk.
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