AUDUSD, H4 approaching our Pivot point, potential for bounce.
Price is approaching our Pivot point at 0.77504, in line with 61.8%, 61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.77884. It is worth noting that price is trending above the ascending trendline and Ichimoku cloud, in line with our bullish view.
Pivot: 0.77504
Why we like it:
61.8%, 61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 0.77247
Why we like it:
88% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical support.
1st Resistance: 0.77884
Why we like it:
78.6% Fibonacci extension, 88%, 78.6% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77504
Why we like it:
61.8%, 61.8% Fibonacci retracement, 50% fibonacci extension and horizontal graphical overlap
1st Support: 0.77247
Why we like it:
88% Fibonacci retracement, 88% Fibonacci extension and horizontal graphical support.
1st Resistance: 0.77884
Why we like it:
78.6% Fibonacci extension, 88%, 78.6% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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