Type: Bearish ReversalKey Levels:Resistance: 1.05014Pivot: 1.04836Support: 1.04309Preferred Case:Price is abiding to the descending trendline resistance, signifying bearish momentum. We can expect price to drop from pivot level in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement towards 1st Support in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection.Alternative Scenario:Alternatively, price might push up to 1st Resistance in line with 100% Fibonacci projection.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audnzd-h4-or-bearish-continuation"
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