Type: Bearish ReversalKey Levels:Resistance: 0.65047Pivot: 0.64634Support: 0.6412Preferred Case:Despite the recent breakout of the triangle to the upside, we have a short term bearish bias that price will drop and retest at out 1st support of 0.6412 in line with the 50% Fibonacci retracement and the ascending trendline from our pivot of 0.64634 in line with the 61.8% Fibonacci retracement and swing high resistance. Our bearish bias is further supported by how price is moving below our Ichimoku cloud.Alternative Scenario:Alternatively, price may break our pivot structure and continue to our 1st resistance at 0.65047 in line with the swing high resistance.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audchf-h4-or-potential-bullish-rise5"
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