AUDUSD H1 |  Bearish reversal off 50% Fibo

TitleAUDUSD H1 |  Bearish reversal off 50% FiboTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.63444 which is an overlap resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.6313 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.63732 which is a pullback resistance level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.