AUDUSD H4 | Approaching 38.2% Fibo resistance

TitleAUDUSD H4 | Approaching 38.2% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.65172 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.64678 which is a swing-low support.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.65567 which is a pullback resistance that aligns close to the 38.2% Fibonacci retracement 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.