TitleAUDUSD H4 | Rising into 50% FiboTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.63991 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63324 which is a swing-low support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.64278 which is an overlap resistance that aligns close to the 78.6% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
