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M4Academy
Feb 25, 2021 7:19 AM

AUDUSD is testing our pivot, potential rise.  Long

Australian Dollar/US DollarSaxo

Description

Description:
Price is testing our pivot at 0.79777, in line with 161.8%, 23.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap. Where we could see a bounce above this level towards the 1st resistance. Otherwise, a break beneath this level may see price swing towards 1st support. Do note that price is trending above the moving average, in line with our bullish analysis.

Pivot: 0.79777
Supporting Points:
161.8%, 23.6% fibonacci retracement, 127% fibonacci extension and horizontal graphical overlap.

1st Support: 0.79463
Supporting Points:
127% Fibonacci retracement, 88%, 78.6% fibonacci extension and horizontal graphical overlap

1st Resistance: 0.80042
Supporting Points:
-27% Fibonacci retracement, 61.8%, 161.8% fibonacci extension and previous swing high resistance.
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