#AUSDUSD is approaching pivot, potential for bounce
Price is approaching our pivot level at 0.70985 which is in line with -61.8% Fibonacci retracement level and 100% Fibonacci extension level. Price could potentially bounce towards resistance at 0.72100 which is in line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and 20EMA. Stochastic is also at support level where previous bounces occurred. Alternatively, price may drop towards support at 0.70338, which coincides with -27.2% Fibonacci retracement level and 127.2% Fibonacci extension level.
Pivot: 0.70985
Why we like it: -61.8% Fibonacci retracement level and 100% Fibonacci extension level
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