AUDUSD, H4 approaching our Pivot point, potential for a rise.
Description
Price is testing our Pivot point of 0.77545, which is in line with our 61.8%, 78.6% Fibonacci retracement and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.78233, in line with a fibonacci confluence. It is noteworthy that MACD is above the 0 line, in line with our bullish view.
Pivot: 0.77545
Why we like it:
61.8%, 78.6% Fibonacci retracement and ascending trendline support
1st Support: 0.77545
Why we like it:
61.8%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.78233
Why we like it:
-27%, 127% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Price is testing our Pivot point of 0.77545, which is in line with our 61.8%, 78.6% Fibonacci retracement and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.78233, in line with a fibonacci confluence. It is noteworthy that MACD is above the 0 line, in line with our bullish view.
Pivot: 0.77545
Why we like it:
61.8%, 78.6% Fibonacci retracement and ascending trendline support
1st Support: 0.77545
Why we like it:
61.8%, 127% fibonacci retracement and horizontal swing low support.
1st Resistance: 0.78233
Why we like it:
-27%, 127% Fibonacci retracement, 78.6% fibonacci extension and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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