AUDUSD, H4 bouncing from our Pivot point, potential for a rise
Description
Price is bouncing from our Pivot point of 0.76569, which is in line with our 50% fibonacci retracement, 127%, 61.8% Fibonacci extension, horizontal graphical overlap and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.77682, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 0.76569
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 0.76150
Why we like it:
127%, -27% fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.77682
Why we like it:
127% and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.76569, which is in line with our 50% fibonacci retracement, 127%, 61.8% Fibonacci extension, horizontal graphical overlap and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.77682, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 0.76569
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 0.76150
Why we like it:
127%, -27% fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.77682
Why we like it:
127% and -27% fibonacci retracement
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.