AUDUSD, H4 is testing our Pivot point, potential for rise.
Price is testing for bullish breakout at our Pivot point at 0.77417, in line with 61.8%Fibonacci retracement, 78.6%, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.78013. It is worth noting that price is trending above the descending trendline resistance turned-support, in line with our bullish view.
Pivot: 0.77417
Why we like it:
61.8%Fibonacci retracement, 78.6%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.76735
Why we like it:
23.6% Fibonacci retracement, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.78013
Why we like it:
78.6%, 88% Fibonacci retracement, 127% Fibonacci extension and previous swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77417
Why we like it:
61.8%Fibonacci retracement, 78.6%, 61.8% fibonacci extension and horizontal graphical overlap
1st Support: 0.76735
Why we like it:
23.6% Fibonacci retracement, 127% fibonacci extension and horizontal swing low support.
1st Resistance: 0.78013
Why we like it:
78.6%, 88% Fibonacci retracement, 127% Fibonacci extension and previous swing high resistance.
Trading FX & CFDs carries high risk.
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