AUDUSD, H4 approaching pivot, Potential for drop.
Price is facing bearish pressure from pivot which is in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push down towards 1st support which is in line with horizontal swing low support which is in line with 100% Fibonacci extension and 161.8% Fibonacci retracement. Stochastics is also approaching a resistance level of 95.36, in line with our analysis.
Pivot: 0.76373
Why we like it:
Graphical pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
1st Support: 0.75320
Why we like it:
Graphical swing low support, 100% Fibonacci extension, 161.8% Fibonacci retracement
1st Resistance: 0.76771
Why we like it:
Graphical swing high resistance, 127.2% Fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 0.76373
Why we like it:
Graphical pullback resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
1st Support: 0.75320
Why we like it:
Graphical swing low support, 100% Fibonacci extension, 161.8% Fibonacci retracement
1st Resistance: 0.76771
Why we like it:
Graphical swing high resistance, 127.2% Fibonacci extension
Trading FX & CFDs carries high risk.
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