TitleAUDUSD H4 | Rising into resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.68331 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.67257 which is a pullback support that aligns above the 61.8% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.68925 which is an overlap resistance at the recent swing-high.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
