Type: Bullish BounceKey Levels:Resistance: 0.72768 Pivot: 0.71841Support: 0.70908Preferred Case:With price approaching the support of the ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 0.72768 which is in line with horizontal swing high resistance, 50% Fibonacci retracement from pivot at 0.71841, which is in line with horizontal overlap support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.70908, which coincides with horizontal overlap support and 61.8%
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-h4-i-potential-bullish-bounce"
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