Title
AUDUSD H4 | Bearish reversal off 61.8% fibo projection?
Type
Bearish Reversal
Preference:
Price could potentially reject off our pivot point at 0.6587, which is a swing high resistance level, slightly above the 61.8% fibo projection and 127.2% fibo extension. Price could fall to the 1st support at 0.6541, which is a pullback support level .
Alternative scenario:
If price breaks above the pivot point, then price could rise towards the 1st resistance level at 0.6624, which is a pullback resistance level.
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Source: Tickmill
