Type: Bearish ReversalKey Levels:Resistance: 1.05294Pivot: 1.05036Support: 1.04236Preferred Case:Price is abiding to the descending trendline resistance on the daily, signifying an overall bearish momentum. We can expect price to drop from the pivot in line with 78.6% Fibonacci projection to the 1st Support in line with 50% Fibonacci retracement and 61.8% Fibonacci projection.Alternative Scenario:Alternatively, price could 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-8thdec"
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