AUDUSD, H4 is approaching our Pivot point, potential for a rise
Description
Price is approaching our Pivot point of 0.74074, which is in line with our 38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74784, in line with -27%, 127% and -27% Fibonacci retracement. It is worth noting that price is trending in the Ichimoku cloud, within an ascending channel and MACD is above the 0 line, which is showing bullish momentum in line with our analysis.
Pivot: 0.74074
Why we like it:
38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.73656
Why we like it:
76.4% Fibonacci retracement and ascending trendline support
1st Resistance: 0.74784
Why we like it:
-27%, 127% and -27% Fibonacci retracement
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.74074, which is in line with our 38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74784, in line with -27%, 127% and -27% Fibonacci retracement. It is worth noting that price is trending in the Ichimoku cloud, within an ascending channel and MACD is above the 0 line, which is showing bullish momentum in line with our analysis.
Pivot: 0.74074
Why we like it:
38.2%, 61.8% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.73656
Why we like it:
76.4% Fibonacci retracement and ascending trendline support
1st Resistance: 0.74784
Why we like it:
-27%, 127% 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.