#AUDUSD consolidating at pivot, potential for a bounce!
Price is consolidating at pivot level of 0.72270, in-line with 61.8% Fibonacci retracement level and 78.6% Fibonacci extension level. Price could potentially swing towards resistance at 0.73200, in-line with 38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average resistances
Alternatively, price could potentially drop to support level at 0.71575, in-line with 78.6% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
0.72270
Why we like it:
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Support:
0.71575
Why we like it:
78.6% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
0.73200
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average resistances
Trading FX & CFDs carries high risk.
Alternatively, price could potentially drop to support level at 0.71575, in-line with 78.6% Fibonacci retracement level and 100% Fibonacci extension level.
Pivot:
0.72270
Why we like it:
61.8% Fibonacci retracement level and 78.6% Fibonacci extension level
1st Support:
0.71575
Why we like it:
78.6% Fibonacci retracement level and 100% Fibonacci extension level
1st Resistance:
0.73200
Why we like it:
38.2% Fibonacci retracement level, 61.8% Fibonacci extension level and moving average resistances
Trading FX & CFDs carries high risk.
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