AUDUSD, H4 testing our Pivot point, potential for bounce.
Price is testing our Pivot point at 0.76712, in line with 100% Fibonacci extension, 76.4%, -27% fibonacci retracement and horizontal graphical area, where we could potentially see a bounce from our pivot towards our 1st resistance level at 0.77095. It is worth noting that price is trending under the descending trendline resistance, where price may return to test again.
Pivot: 0.76712
Why we like it:
100% Fibonacci extension, 76.4%, -27% fibonacci retracement and horizontal graphical area
1st Support: 0.76333
Why we like it:
78.6% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical area.
1st Resistance: 0.77095
Why we like it:
-68%, -27% Fibonacci retracement, descending trendline resistance and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.76712
Why we like it:
100% Fibonacci extension, 76.4%, -27% fibonacci retracement and horizontal graphical area
1st Support: 0.76333
Why we like it:
78.6% Fibonacci retracement, 50% Fibonacci extension and horizontal graphical area.
1st Resistance: 0.77095
Why we like it:
-68%, -27% Fibonacci retracement, descending trendline resistance and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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