AUDUSD, H4 approaching our Pivot point, potential for a rise.
Description
Price is approaching our Pivot point of 0.77337, which is in line with our 50%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 0.78198, in line with -27% fibonacci retracement and horizontal swing-high resistance. It is noteworthy that price is trending above an ascending trendline and the moving average, in line with our bullish analysis.
Pivot: 0.77337
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.76787
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.77337, which is in line with our 50%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 0.78198, in line with -27% fibonacci retracement and horizontal swing-high resistance. It is noteworthy that price is trending above an ascending trendline and the moving average, in line with our bullish analysis.
Pivot: 0.77337
Why we like it:
50%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.76787
Why we like it:
127% fibonacci retracement, 78.6% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
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