#AUDUSD, H4 is at Pivot. Potential for a bounce
Price is at key pivot level of 0.75725 where we have 38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support lining up. A bounce above this level might see price swing towards 1st Resistance at 0.76249, in-line with -27.2% and 61.8% Fibonacci retracement with 20EMA and 50MA bullish crossover.
Finally, price is unlikely to fall below our strong support at 0.75335 , which coincides with 61.8% Fibonacci retracement,161.8% Fibonacci extension level and horizontal overlap support.
Pivot: 0.75725
Why we like it:
38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal graphical overlap
1st Support: 0.75335
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance: 0.76249
Why we like it:
-27.2% and 161.8% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Finally, price is unlikely to fall below our strong support at 0.75335 , which coincides with 61.8% Fibonacci retracement,161.8% Fibonacci extension level and horizontal overlap support.
Pivot: 0.75725
Why we like it:
38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal graphical overlap
1st Support: 0.75335
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance: 0.76249
Why we like it:
-27.2% and 161.8% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
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