#AUDUSD, H4 has bounced from our Pivot. Potential for a rise.

May 20, 2021

Price has bounced from our Pivot point at 0.77219, in line with 78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.77637, in line with 50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. It's worth noting that stochastics is showing bullish pressure where price reversed off the 14% level previously.

Pivot: 0.77219
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap

1st Support: 0.76887
Why we like it:
161.8% fibonacci retracement, 61.8% fibonacci extension and horizontal swing low

1st Resistance: 0.77637
Why we like it:
50% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap
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