Type: Bullish BounceKey Levels:Resistance: 0.7284Pivot: 0.71638Support: 0.70946Preferred Case:Price is near the key pivot level. We see the potential of a bullish bounce from pivot level of 0.71638 in line with 100% fibonacci projection towards the 1st resistance level of 0.7284 in line with 38.2% fibonacci retracement and 100% fibonacci projection.Alternative Scenario:Otherwise, price might break the key pivot level to trigger a dip towards the 2nd support of 0.70946 which is in line with 78.6% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-h4-or-potential-for-bullish-bounce"
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