AUDUSD, H4 bounced from our Pivot point, potential for rise.
Price has bounced from our Pivot point at 0.77318, in line with 78.6% Fibonacci retracement, 127% fibonacci extension, ascending trendline support and Ichimoku cloud support. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.78298, a fibonacci confluence area. It is worth noting that price is above the Ichimoku cloud and ascending trendline, in line with our analysis.
Pivot: 0.77318
Why we like it:
78.6% Fibonacci retracement, 127% fibonacci extension, ascending trendline support and Ichimoku cloud support
1st Support: 0.76584
Why we like it:
-61.8% and 127% Fibonacci retracement.
1st Resistance: 0.78298
Why we like it:
78.6% fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77318
Why we like it:
78.6% Fibonacci retracement, 127% fibonacci extension, ascending trendline support and Ichimoku cloud support
1st Support: 0.76584
Why we like it:
-61.8% and 127% Fibonacci retracement.
1st Resistance: 0.78298
Why we like it:
78.6% fibonacci retracement, 61.8% Fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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