AUDUSD facing bearish pressure, potential for further downside!
Prices are facing bearish pressure from pivot level which is in line with horizontal pullback resistance, 50% Fibonacci retracement, and 78.6% Fibonacci extension. Prices might push down towards 1st support which is horizontal pullback support, in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. If prices push up, prices might face resistance from horizontal swing high resistance in line with 161.8% Fibonacci extension. EMA is also above prices, showing bearish pressure for prices.
Pivot: 0.77505
Why we like it:
Horizontal pullback resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 0.76594
Why we like it:
Horizontal pullback support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement
1st Resistance: 0.78159
Why we like it:
Horizontal swing high resistance, 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
Pivot: 0.77505
Why we like it:
Horizontal pullback resistance, 50% Fibonacci retracement, 78.6% Fibonacci extension
1st Support: 0.76594
Why we like it:
Horizontal pullback support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement
1st Resistance: 0.78159
Why we like it:
Horizontal swing high resistance, 161.8% Fibonacci extension
Trading FX & CFDs carries high risk.
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