AUDUSD, H4 | Potential Bearish Continuation, 22nd June


Type: Bearish ReversalKey Levels:Resistance: 0.70428 Pivot: 0.70428 Support: 0.68501Preferred Case:On the H4, with price moving below the icihimoku cloud and in a descending trendline, we have a bearish bias that price will continue to drop from the pivot at 0.70428 in line with the 61.8% fibonacci projection to the 1st support at 0.68501 at the horizontal swing low.Alternative Scenario:Alternatively, price may reverse off the pivot and rise to the 1st resistance at 0.70428 in line with the pullback resistance and 50% fibonacci retracement.

Source: Tickmill

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