Title
AUDUSD H4 | Falling to 127.2% Fibo support

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 0.64005 which is an overlap support that aligns clsoe to the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.6473 which is a pullback resistance level..

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 0.63652 which is a pullback support that aligns close to the 161.8% Fibonacci extension level.

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