AUDUSD, H4 approaching our Pivot point, potential for a rise.
Description
Price is approaching our Pivot point of 0.76421, which is in line with our 23.6% Fibonacci retracement, 50%, 100% fibonacci extension 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, 50% fibonacci extension and horizontal swing-high resistance. It is noteworthy that price is trending above a bullish channel and the Ichimoku cloud, and MACD is above 0 line, in line with our bullish analysis.
Pivot: 0.76421
Why we like it:
23.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.75403
Why we like it:
38.2%, 78.6%, -61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement, 50% fibonacci extension and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.76421, which is in line with our 23.6% Fibonacci retracement, 50%, 100% fibonacci extension 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, 50% fibonacci extension and horizontal swing-high resistance. It is noteworthy that price is trending above a bullish channel and the Ichimoku cloud, and MACD is above 0 line, in line with our bullish analysis.
Pivot: 0.76421
Why we like it:
23.6% Fibonacci retracement, 50%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.75403
Why we like it:
38.2%, 78.6%, -61.8% fibonacci retracement, 161.8% fibonacci extension and horizontal swing low support
1st Resistance: 0.78198
Why we like it:
-27% fibonacci retracement, 50% fibonacci extension and horizontal swing-high resistance
Trading FX & CFDs carries high risk.
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