#AUDUSD, H4 has bounced from our Pivot. Potential for a rise.
Price has bounced from our Pivot point at 0.77382, in line with 61.8% fibonacci retracement and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.78130, in line with 61.8%, -27% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. It's worth noting that price is trending above the ascending trendline on the Daily time frame.
Pivot: 0.77382
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 0.77012
Why we like it:
88.6% fibonacci retracement and horizontal swing low
1st Resistance: 0.78130
Why we like it:
61.8%, -27% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
Pivot: 0.77382
Why we like it:
61.8% fibonacci retracement and horizontal graphical overlap
1st Support: 0.77012
Why we like it:
88.6% fibonacci retracement and horizontal swing low
1st Resistance: 0.78130
Why we like it:
61.8%, -27% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap
Trading FX & CFDs carries high risk.
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