Type: Bullish BounceKey Levels:Resistance: 1.09212 Pivot: 1.0843Support: 1.08116Preferred Case:Prices is on ascending trendline. We see the potential for a bounce from our Pivot at 1.0843 in line with 50% Fibonacci retracement towards our 1st resistance at 1.09212 at 161.8% Fibonacci Projection. Prices are on trading above our Ichimoku clouds, further supporting our bullish bias.Alternative Scenario:Alternatively, prices will dip towards our 1st support at 1.08116 in line with 61.8% Fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audnzd-h4-or-potential-for-bounce"
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