AUDUSD, H4 approaching our Pivot point, potential for a rise.
Description
Price is approaching our Pivot point of 0.77337, which is in line with our 50%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 0.78198, in line with -27% fibonacci retracement and horizontal swing-high resistance. It is noteworthy that price is trending above an ascending trendline and the moving average, in line with our bullish analysis.
Pivot: 0.77337
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.76787
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.77337, which is in line with our 50%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 0.78198, in line with -27% fibonacci retracement and horizontal swing-high resistance. It is noteworthy that price is trending above an ascending trendline and the moving average, in line with our bullish analysis.
Pivot: 0.77337
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.76787
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.