AUDUSD, H4 is reversing from our Pivot. Potential for a drop.
Price is reversing from our Pivot point at 0.77320, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76752, in line with 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Do note that price is under the Ichimoku cloud and MACD is under 0 line, in line with our bearish analysis.
Pivot: 0.77320
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.76752
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77653
Why we like it:
127% fibonacci extension, Ichimoku cloud resistance and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77320
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
1st Support: 0.76752
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.77653
Why we like it:
127% fibonacci extension, Ichimoku cloud resistance and horizontal swing high
Trading FX & CFDs carries high risk.
Penafian
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