#AUDUSD approaching pivot, potential for a drop!
Price is reacting below our pivot level at 0.72839 which is in line with 61.8% Fibonacci retracement level. Price can potentially take support at 0.72223, which is in line with horizontal swing low support. Alternatively, price may rise up to our resistance at 0.73218, which coincides with horizontal swing high resistance . This is further supported by how price is holding below the EMA
Pivot:
0.72839
Why we like it:
61.8% Fibonacci retracement level
1st Support:
0.72223
Why we like it:
horizontal swing low support
1st Resistance:
0.73218
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.72839
Why we like it:
61.8% Fibonacci retracement level
1st Support:
0.72223
Why we like it:
horizontal swing low support
1st Resistance:
0.73218
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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