#AUDUSD approaching pivot, potential for a bounce!

Price is approaching pivot level of 0.72496, which is in line with 78.6% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.73758. This level coincides with 61.8% Fibonacci retracement level. Finally, we can expect price to take support at 0.72202horizontal swing low support . This is further supported by how price is likely to bounce off the RSI support level .

Pivot:
0.72496
Why we like it:
78.6% Fibonacci retracement level

1st Support:
0.72202
Why we like it:
horizontal swing low support

1st Resistance:
0.73758
Why we like it:
61.8% Fibonacci retracement level

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