AUDUSD, H4 is approaching our Pivot point, potential for a rise.
Description
Price is approaching our Pivot point of 0.73896, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74917, in line with 78.6% and -27% Fibonacci retracement. It is worth noting that the Ichimoku cloud, MACD and ascending trendline are all showing bullish momentum which is in line with our analysis.
Pivot: 0.73896
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Support: 0.73305
Why we like it:
50% Fibonacci retracement and horizontal graphical area
1st Resistance: 0.74917
Why we like it:
100% Fibonacci extension, -27% Fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.73896, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74917, in line with 78.6% and -27% Fibonacci retracement. It is worth noting that the Ichimoku cloud, MACD and ascending trendline are all showing bullish momentum which is in line with our analysis.
Pivot: 0.73896
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Support: 0.73305
Why we like it:
50% Fibonacci retracement and horizontal graphical area
1st Resistance: 0.74917
Why we like it:
100% Fibonacci extension, -27% Fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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