Type: Bullish BounceKey Levels:Resistance: 0.75893Pivot: 0.74678Support: 0.74303Preferred Case:We see the potential for a bullish bounce from our pivot level at 0.74678 in line with 38.2% Fibonacci retracement towards our 1st resistance at 0.75893 in line with 61.8% Fibonacci retracement and 61.8% fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is at support level.Alternative Scenario:Alternative Scenario:Alternatively, price might continue to dip to 1st support level at 0.74303 in line with 50% fibonacci retracement.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/audusd-h4-or-potential-for-bullish-pressure"
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