AUDUSD, H4 is approaching our Pivot point, potential for a rise.
Description
Price is approaching our Pivot point of 0.73896, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74917, in line with 78.6% and -27% Fibonacci retracement. It is worth noting that the Ichimoku cloud, MACD and ascending trendline are all showing bullish momentum which is in line with our analysis.
Pivot: 0.73896
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Support: 0.73305
Why we like it:
50% Fibonacci retracement and horizontal graphical area
1st Resistance: 0.74917
Why we like it:
100% Fibonacci extension, -27% Fibonacci retracement and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching our Pivot point of 0.73896, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap, where we could see a potential bounce at this level to our first resistance level of 0.74917, in line with 78.6% and -27% Fibonacci retracement. It is worth noting that the Ichimoku cloud, MACD and ascending trendline are all showing bullish momentum which is in line with our analysis.
Pivot: 0.73896
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical overlap
1st Support: 0.73305
Why we like it:
50% Fibonacci retracement and horizontal graphical area
1st Resistance: 0.74917
Why we like it:
100% Fibonacci extension, -27% Fibonacci retracement and horizontal 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.