Type: Bearish ReversalKey Levels:Resistance: 0.75598Pivot: 0.74988Support: 0.74258Preferred Case:On the H4, price is near Pivot level of 0.74988 in line with 127.2% Fibonacci extension and 100% Fibonacci projection. Price can dip towards the 1st support level of 0.74258 which is in line with 23.6% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator as it is at the resistance levelAlternative Scenario:Alternatively, price might move towards the 1st resistance level of 0.75598 in line with 138.2% Fibonacci extension and -27.2% Fibonacci expansion.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-h4-or-potential-bearish-dip"
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