AUDUSD H4 | Bearish reversal off 23.6% Fibo?

TitleAUDUSD H4 | Bearish reversal off 23.6% Fibo?TypeBearish ReversalPreference:Price is rising towards the pivot point of 0.64005 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.63397 which is a level that aligns with the 127.2% Fibonacci extension level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.64451 which is an overlap resistance that aligns close to the 50.0% 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.