EURAUD, H4 I Potential Rise

euraud,-h4-i-potential-rise

Type: Bullish BounceKey Levels:Resistance: 1.49684Pivot: 1.47451Support: 1.4689Preferred Case:On the H4, with price expected to bounce off the RSI indicator, we have a bullish bias that price will rise to our 1st resistance at 1.49684 where the swing high resistance , 78.6% Fibonacci retracement and 61.8% Fibonacci projection is from our pivot at 1.47451 in line with the horizontal swing low support and 78.6 Fibonacci retracement.Alternative Scenario:Alternatively, price may break structure and head for 1st support at 1.4689 where the horizontal swing low support is.

Source: Tickmill

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