AUDUSD, H4 approaching our Pivot point, potential for bounce.
Price is approaching our Pivot point at 0.77474, in line with 38.2% and 61.8% Fibonacci retracement, where we could potentially see a rise from our pivot towards our 1st resistance level at 0.77931. It is worth noting that price is trending above the descending trendline resistance turned-support, in line with our bullish view.
Pivot: 0.77474
Why we like it:
38.2% and 61.8% Fibonacci retracement.
1st Support: 0.77268
Why we like it:
78.6%, 88%, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 0.77931
Why we like it:
61.8% Fibonacci extension, 88%, -27%, 127%, 161.8% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77474
Why we like it:
38.2% and 61.8% Fibonacci retracement.
1st Support: 0.77268
Why we like it:
78.6%, 88%, 61.8% Fibonacci retracement and horizontal graphical area.
1st Resistance: 0.77931
Why we like it:
61.8% Fibonacci extension, 88%, -27%, 127%, 161.8% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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