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AUDUSD, H4 I Potential For A Bullish Bounce

30126 audusd h4 i potential for a bullish bounce

Type: Bullish BounceKey Levels:Resistance: 0.72717Pivot: 0.71951Support: 0.71281Preferred Case:With price moving above the Ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 0.72717 which is in line with horizontal overlap resistance and 61.8% Fibonacci retracement from pivot at 0.71951, which is in line with horizontal overlap support and 61.8% Fibonacci retracement level.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.71281, which coincides with horizontal swing low resistance and 127.2% Fibonacci extension.

Source: Tickmill

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