AUDUSD, H4 is approaching our Pivot point, potential bounce.
Price is approaching our Pivot point at 0.76196, in line with 78.6% Fibonacci retracement, 100% Fibonacci extension and horizontal swing low support. We could potentially see a push up of prices from pivot level towards 1st resistance which coincides with horizontal swing high resistance and -27.2%. Note that price is trending above the EMA, in line with our bullish view.
Pivot: 0.76196
Why we like it:
Horizontal swing low support, 78.6% Fibonacci retracement, 100% Fibonacci extension
1st Support: 0.75849
Why we like it:
Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
1st Resistance: 0.76771
Why we like it:
-27.2% Fibonacci retracement, horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 0.76196
Why we like it:
Horizontal swing low support, 78.6% Fibonacci retracement, 100% Fibonacci extension
1st Support: 0.75849
Why we like it:
Horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension
1st Resistance: 0.76771
Why we like it:
-27.2% Fibonacci retracement, horizontal swing high resistance
Trading FX & CFDs carries high risk.
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