AUDUSD, H4 above our Pivot point, potential for rise.

25 Feb 2021

Price is above our Pivot point at 0.79478, in line with 38.2%, 38.2% Fibonacci retracement, 78.6%, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.80082. It is worth noting that price is trending above the moving average, in line with our bullish view.

Pivot: 0.79478
Why we like it:
38.2%, 38.2% Fibonacci retracement, 78.6%, 78.6% fibonacci extension and horizontal graphical overlap

1st Support: 0.78919
Why we like it:
78.6%, 88% Fibonacci retracement and horizontal graphical support.

1st Resistance: 0.80082
Why we like it:
161.8%, 161.8% Fibonacci extension, -27% and -27% Fibonacci retracement.

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