#AUDUSD, H4 has bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point at 0.77189, in line with 127% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.77668, in line with 61.8% fibonacci extension and horizontal graphical swing high. It's worth noting that price is trending above the ascending trendline, in line with our bullish analysis.
Pivot: 0.77189
Why we like it:
127% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Support: 0.76819
Why we like it:
127% fibonacci retracement and horizontal graphical swing low
1st Resistance: 0.77668
Why we like it:
61.8% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77189
Why we like it:
127% fibonacci retracement, 88.6% fibonacci extension and ascending trendline support
1st Support: 0.76819
Why we like it:
127% fibonacci retracement and horizontal graphical swing low
1st Resistance: 0.77668
Why we like it:
61.8% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
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