Title
AUDUSD H4 | Bullish bounce off pivot point?
Type
Bullish bounce
Preference:
The price is falling to the pivot point at 0.65699, an overlap support and could bounce off and rise towards the 1st resistance level at 0.66755, a multi-swing-high resistance.
Alternative scenario:
The price could break though our pivot point at 0.65699, an overlap support and fall towards the 1st support level at 0.65184, which is an overlap support level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.