AUDUSD reversing from our Pivot point, potential for a drop!
Description
Price is reversing from our Pivot point of 0.76015, which is in line with our 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75145, in line with 61.8% and 50% fibonacci retracement.
Pivot: 0.76015
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance
1st Support: 0.75145
Why we like it:
61.8% and 50% fibonacci retracement
1st Resistance: 0.76404
Why we like it:
127% Fibonacci extension and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is reversing from our Pivot point of 0.76015, which is in line with our 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance, where we could see a potential drop from this level to our first support level of 0.75145, in line with 61.8% and 50% fibonacci retracement.
Pivot: 0.76015
Why we like it:
78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical resistance
1st Support: 0.75145
Why we like it:
61.8% and 50% fibonacci retracement
1st Resistance: 0.76404
Why we like it:
127% Fibonacci extension and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
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