#AUDUSD approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.7376, which is in line with 23.6% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.74796. This level coincides with 100% Fibonacci extension level. Finally, we can expect price to take support at 0.7284561.8% Fibonacci retracement level . This is further supported by how MACD is holding above the 0 line.
Pivot:
0.73760
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.72845
Why we like it:
61.8% Fibonacci retracement level
1st Resistance:
0.74796
Why we like it:
100% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
0.73760
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.72845
Why we like it:
61.8% Fibonacci retracement level
1st Resistance:
0.74796
Why we like it:
100% Fibonacci extension level
Trading FX & CFDs carries high risk.
Penafian
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