AUDUSD, H4 reversed from our Pivot point, potential for a rise !
Description
Price reversed from our Pivot point of 0.75583, which is in line with our 61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support, where we could see a potential rise from this level to our first resistance level of 0.76511, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline, in line with our bullish view.
Pivot: 0.75583
Why we like it:
61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Support: 0.75295
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76511
Why we like it:
161.8%, -27% and -68% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Price reversed from our Pivot point of 0.75583, which is in line with our 61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support, where we could see a potential rise from this level to our first resistance level of 0.76511, in line with a fibonacci confluence. It is noteworthy that price is trending above an ascending trendline, in line with our bullish view.
Pivot: 0.75583
Why we like it:
61.8%, 161.8% Fibonacci retracement, 78.6% fibonacci extension and horizontal graphical support
1st Support: 0.75295
Why we like it:
88% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap
1st Resistance: 0.76511
Why we like it:
161.8%, -27% and -68% Fibonacci retracement.
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.