AUDUSD, H4 | Potential Bearish Continuation

audusd,-h4-|-potential-bearish-continuation

Type: Bearish ReversalKey Levels:Resistance: 0.71248Pivot: 0.70107Support: 0.68466Preferred Case:On the H4, with price moving below the Ichimoku cloud, we have a bearish bias that prices will drop to our 1st support at 0.68466 where our horizontal swing low is at from our pivot at 0.70107 in line with horizontal swing high and 38.2% Fibonacci retracement.Alternative Scenario:Alternatively, price may break structure and head for the 1st resistance at 0.7105 in line with the horizontal swing high and 61.8% Fibonacci retracement.

Source: Tickmill

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