AUDUSD, H4 is approaching our Pivot. Potential for a drop.
Price has reversed from our Pivot point at 0.77365, in line with 61.8% Fibonacci retracement, extension and descending trendline resistance. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76771, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap.
Pivot: 0.77365
Why we like it:
61.8% Fibonacci retracement, extension and descending trendline resistance.
1st Support: 0.76771
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77678
Why we like it:
61.8% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 0.77365
Why we like it:
61.8% Fibonacci retracement, extension and descending trendline resistance.
1st Support: 0.76771
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77678
Why we like it:
61.8% fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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