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.
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.