#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.73926, which is in line with 76.4% Fibonacci retracement levelhorizontal swing high resistance. A reversal from this level may see price take resistance at price 0.74279. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.73169horizontal swing low support . This is further supported by how price is likely to reverse off the Stochastic resistance level .
Pivot:
0.73926
Why we like it:
76.4% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.73169
Why we like it:
horizontal swing low support
1st Resistance:
0.74279
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.73926
Why we like it:
76.4% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.73169
Why we like it:
horizontal swing low support
1st Resistance:
0.74279
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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