AUDUSD, H4 bouncing from our Pivot point, potential for a rise
Description
Price is bouncing from our Pivot point of 0.76569, which is in line with our 50% fibonacci retracement, 127%, 61.8% Fibonacci extension, horizontal graphical overlap and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.77682, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 0.76569
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 0.76150
Why we like it:
127%, -27% fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.77682
Why we like it:
127% and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point of 0.76569, which is in line with our 50% fibonacci retracement, 127%, 61.8% Fibonacci extension, horizontal graphical overlap and ascending trendline support, where we could see a potential rise from this level to our first resistance level of 0.77682, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline and the Ichimoku cloud, in line with our bullish analysis.
Pivot: 0.76569
Why we like it:
38.2% and 38.2% % fibonacci retracement and horizontal graphical overlap
1st Support: 0.76150
Why we like it:
127%, -27% fibonacci retracement and horizontal graphical overlap
1st Resistance: 0.77682
Why we like it:
127% and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
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