AUDUSD, H4 is reversing to our Pivot point, potential for a rise
Description
Price is reversing to our Pivot point of 0.75898, which is in line with our 38.2%, 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.76663, in line with 61.8% Fibonacci extension and -27% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud, and an ascending trendline which is showing bullish momentum in line with our analysis.
Pivot: 0.75898
Why we like it:
38.2%, 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.75604
Why we like it:
61.8%, 78.6% Fibonacci retracement, 127% Fibonacci extension and ascending trendline support.
1st Resistance: 0.76663
Why we like it:
61.8% Fibonacci extension and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Price is reversing to our Pivot point of 0.75898, which is in line with our 38.2%, 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.76663, in line with 61.8% Fibonacci extension and -27% fibonacci retracement. It is worth noting that price is trending above the Ichimoku cloud, and an ascending trendline which is showing bullish momentum in line with our analysis.
Pivot: 0.75898
Why we like it:
38.2%, 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap
1st Support: 0.75604
Why we like it:
61.8%, 78.6% Fibonacci retracement, 127% Fibonacci extension and ascending trendline support.
1st Resistance: 0.76663
Why we like it:
61.8% Fibonacci extension and -27% fibonacci retracement
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.