AUDUSD H4 | Reacting off resistance?

TitleAUDUSD H4 | Reacting off resistance?TypeBearish DropPreference:Price has just reacted off our pivot point of 0.65927, which serves as a pullback resistance level that closes to 38.2% FIbo retracement.A reversal from this point could lead the price to drop to the 1st support at 0.6523, a pullback support level.Alternative scenario:However, if the price breaks above the pivot, it might rise to the 1st resistance at 0.66513, which serves as 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.