AUDUSD, H4 heading towards our Pivot point, potential for drop.
AUDUSD, H4 heading towards our Pivot point, potential for drop.
Price is approaching our Pivot point at 0.76554, in line with 38.2%, 88% Fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.75727, a fibonacci confluence area. It is worth noting that MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.76554
Why we like it:
38.2%, 88% Fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.75727
Why we like it:
127% Fibonacci retracement and 127% fibonacci extension.
1st Resistance: 0.77193
Why we like it:
78.6% fibonacci retracement 88% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point at 0.76554, in line with 38.2%, 88% Fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.75727, a fibonacci confluence area. It is worth noting that MACD is below the 0 line, in line with our bearish analysis.
Pivot: 0.76554
Why we like it:
38.2%, 88% Fibonacci retracement, 50%, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.75727
Why we like it:
127% Fibonacci retracement and 127% fibonacci extension.
1st Resistance: 0.77193
Why we like it:
78.6% fibonacci retracement 88% fibonacci extension and horizontal graphical overlap.
Trading FX & CFDs carries high risk.
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