AUDUSD, bounced from pivot. Potential for a further rise.
Description:
Price has bounced from our pivot of 0.77205. We could see a medium-probability bullish scenario, from our pivot at 0.77205 towards 1st resistance at 0.77739. Otherwise, failure to hold above pivot could see price swing lower towards 1st support at 0.76608.
Pivot: 0.77205
Supporting Points:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and graphical overlap resistance
1st Support: 0.76608
Supporting Points:
127% fibonacci retracement, 100% Fibonacci extension and graphical swing low support
1st Resistance: 0.77739
Supporting Points:
78.6% fibonacci retracement, 78.6%, 127% fibonacci extension and horizontal graphical overlap resistance
Trading FX & CFDs carries high risk.
Price has bounced from our pivot of 0.77205. We could see a medium-probability bullish scenario, from our pivot at 0.77205 towards 1st resistance at 0.77739. Otherwise, failure to hold above pivot could see price swing lower towards 1st support at 0.76608.
Pivot: 0.77205
Supporting Points:
38.2% Fibonacci retracement, 61.8% Fibonacci extension and graphical overlap resistance
1st Support: 0.76608
Supporting Points:
127% fibonacci retracement, 100% Fibonacci extension and graphical swing low support
1st Resistance: 0.77739
Supporting Points:
78.6% fibonacci retracement, 78.6%, 127% fibonacci extension and horizontal graphical overlap resistance
Trading FX & CFDs carries high risk.