AUDUSD, H4 has bounced from our Pivot point, potential for rise
Price is above our Pivot point at 0.78047, in line with 38.2% Fibonacci retracement, 61.8%, 88% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.79010. It is worth noting that price is trending above the ascending trendline, in line with our bullish view.
Pivot: 0.78047
Why we like it:
38.2% Fibonacci retracement, 61.8%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 0.77558
Why we like it:
88% Fibonacci retracement, 50% fibonacci extension and horizontal swing low support.
1st Resistance: 0.79010
Why we like it:
161.8%, 161.8% Fibonacci extension, 61.8% and -61.8% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Pivot: 0.78047
Why we like it:
38.2% Fibonacci retracement, 61.8%, 88% fibonacci extension and horizontal graphical overlap
1st Support: 0.77558
Why we like it:
88% Fibonacci retracement, 50% fibonacci extension and horizontal swing low support.
1st Resistance: 0.79010
Why we like it:
161.8%, 161.8% Fibonacci extension, 61.8% and -61.8% Fibonacci retracement.
Trading FX & CFDs carries high risk.
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