AUDUSD, H4 bounced from our Pivot point, potential for rise.
Price has bounced from our Pivot point at 0.75977, in line with 38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.76655, in line with -27% fibonacci retracement, 127% fibonacci extension and horizontal swing high. It is worth noting that price is above the moving average, in line with our bullish analysis.
Pivot: 0.75977
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.75558
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low.
1st Resistance: 0.76655
Why we like it:
-27% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
Pivot: 0.75977
Why we like it:
38.2% Fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.75558
Why we like it:
78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low.
1st Resistance: 0.76655
Why we like it:
-27% fibonacci retracement, 127% fibonacci extension and horizontal swing high
Trading FX & CFDs carries high risk.
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