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AUDUSD, H4 I Potential Drop!

30422 audusd h4 i potential drop

Type: Bearish ReversalKey Levels:Resistance: 0.73106Pivot: 0.72637Support: 0.71733Preferred Case:With price at the resistance of the Ichimoku cloud, we are biased that price will drop from our pivot at 0.72637 in line with the 61.8% Fibonacci retracement and the horizontal overlap resistance to 1st support at 0.71733 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and the Ichimoku resistance and head for 1st resistance at 0.73106 in line with the 78.6% Fibonacci projection and the horizontal swing high resistance.

Source: Tickmill

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