AUDUSD H4 | Bearish Reversal off 38.2% Fibo

TitleAUDUSD H4 | Bearish Reversal off 38.2% FiboTypeBearish ReversalPreference:Price is approaching the pivot point at 0.6717. Price may react to this high due to the 38.2% Fibo retracement level, and could continue its bearish momentum towards the 1st support level at 0.66406.Alternative scenario:If price breaks above the previous high, it could head towards the 61.8% fibo retracement level, which is close to the 1st resistance at 0.6805.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.