AUDUSD, H4 is approaching our Pivot point, potential for a rise
Description
Price is approaching our Pivot point of 0.74074, which is in line with our 38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74784, in line with -27%, 127% and -27% Fibonacci retracement. It is worth noting that price is trending in the Ichimoku cloud, within an ascending channel and MACD is above the 0 line, which is showing bullish momentum in line with our analysis.
Pivot: 0.74074
Why we like it:
38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.73656
Why we like it:
76.4% Fibonacci retracement and ascending trendline support
1st Resistance: 0.74784
Why we like it:
-27%, 127% and -27% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.74074, which is in line with our 38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74784, in line with -27%, 127% and -27% Fibonacci retracement. It is worth noting that price is trending in the Ichimoku cloud, within an ascending channel and MACD is above the 0 line, which is showing bullish momentum in line with our analysis.
Pivot: 0.74074
Why we like it:
38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.73656
Why we like it:
76.4% Fibonacci retracement and ascending trendline support
1st Resistance: 0.74784
Why we like it:
-27%, 127% and -27% Fibonacci retracement
Trading FX & CFDs carries high risk.
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