AUDUSD, H4 is approaching our Pivot. Potential for a rise.
Price is approaching our Pivot point at 0.77497, in line with 38.2%, 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.78059, in line with -27% fibonacci retracement and horizontal graphical swing high. Do note that price is above the Ichimoku cloud and MACD is above 0 line, in line with our bullish analysis.
Pivot: 0.77497
Why we like it:
38.2%, 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.77198
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.78059
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Pivot: 0.77497
Why we like it:
38.2%, 78.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.77198
Why we like it:
61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.78059
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical swing high
Trading FX & CFDs carries high risk.
Penafian
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