AUDUSD, reversed from pivot. Potential for a further drop.
Description:
Price has reversed from our pivot of 0.77465. We could see a medium-probability bearish scenario, from our pivot towards 1st support at 0.77185. Otherwise, failure to hold below pivot could see price swing higher towards 1st resistance at 0.77673.
Pivot: 0.77465
Supporting Points:
80% Fibonacci retracement, 88% Fibonacci extension and graphical overlap resistance
1st Support: 0.77185
Supporting Points:
-61.8% fibonacci retracement and graphical overlap support
1st Resistance: 0.77673
Supporting Points:
88%, 61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high resistance
Trading FX & CFDs carries high risk.
Price has reversed from our pivot of 0.77465. We could see a medium-probability bearish scenario, from our pivot towards 1st support at 0.77185. Otherwise, failure to hold below pivot could see price swing higher towards 1st resistance at 0.77673.
Pivot: 0.77465
Supporting Points:
80% Fibonacci retracement, 88% Fibonacci extension and graphical overlap resistance
1st Support: 0.77185
Supporting Points:
-61.8% fibonacci retracement and graphical overlap support
1st Resistance: 0.77673
Supporting Points:
88%, 61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical swing high resistance
Trading FX & CFDs carries high risk.