AUDUSD H4 | Bullish continuation towards 1st resistance?
Title AUDUSD H4 | Bullish continuation towards 1st resistance?Type Bullish BouncePreference: Price bounced off the pivot point at 0.6756, an overlap support key level that aligns with the 61.8% fibo projection and 50% fibo retracement, which shows fibo confluence. ...
TitleAUDUSD H4 | Bullish continuation towards 1st resistance?TypeBullish BouncePreference:Price bounced off the pivot point at 0.6756, an overlap support key level that aligns with the 61.8% fibo projection and 50% fibo retracement, which shows fibo confluence. Price could potentially continue its bullish momentum towards the 1st resistance at 0.6838, which is a multi-swing high resistance key level and at the 61.8% fibo retracement.Alternative scenario:If price breaks below the pivot point, then price will most likely fall to the 1st support at 0.6702, which is at the 61.8% fibo retracement and pullback support key level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
