AUDUSD, H4 is testing our Pivot point, potential for a rise.
Description
Price is testing our Pivot point of 0.76922, which is in line with our -27% Fibonacci retracement and 127% Fibonacci extension, where we could see a potential rise from this level to our first resistance level of 0.75549, in line with -68% fibonacci retracement and 88% fibonacci extension. It is noteworthy that price is trending above the Ichimoku cloud and MACD is above the 0 line, in line with our bullish view.
Pivot: 0.76922
Why we like it:
-27% Fibonacci retracement and 127% Fibonacci extension
1st Support: 0.76415
Why we like it:
23.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.75549
Why we like it:
-68% fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
Price is testing our Pivot point of 0.76922, which is in line with our -27% Fibonacci retracement and 127% Fibonacci extension, where we could see a potential rise from this level to our first resistance level of 0.75549, in line with -68% fibonacci retracement and 88% fibonacci extension. It is noteworthy that price is trending above the Ichimoku cloud and MACD is above the 0 line, in line with our bullish view.
Pivot: 0.76922
Why we like it:
-27% Fibonacci retracement and 127% Fibonacci extension
1st Support: 0.76415
Why we like it:
23.8% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.75549
Why we like it:
-68% fibonacci retracement and 88% fibonacci extension
Trading FX & CFDs carries high risk.
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