#AUDUSD, H4 is at Pivot. Potential for a bounce
Price is at key pivot level of 0.75725 where we have 38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap support lining up. A bounce above this level might see price swing towards 1st Resistance at 0.76249, in-line with -27.2% and 61.8% Fibonacci retracement with 20EMA and 50MA bullish crossover.
Finally, price is unlikely to fall below our strong support at 0.75335 , which coincides with 61.8% Fibonacci retracement,161.8% Fibonacci extension level and horizontal overlap support.
Pivot: 0.75725
Why we like it:
38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal graphical overlap
1st Support: 0.75335
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance: 0.76249
Why we like it:
-27.2% and 161.8% Fibonacci retracement level and horizontal overlap resistance
Trading FX & CFDs carries high risk.
Finally, price is unlikely to fall below our strong support at 0.75335 , which coincides with 61.8% Fibonacci retracement,161.8% Fibonacci extension level and horizontal overlap support.
Pivot: 0.75725
Why we like it:
38.2% Fibonacci retracement level, 100% Fibonacci extension level & horizontal graphical overlap
1st Support: 0.75335
Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal overlap support
1st Resistance: 0.76249
Why we like it:
-27.2% and 161.8% Fibonacci retracement level and horizontal overlap 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.