AUDUSD H4 | Rising into 61.8% Fibo resistance

TitleAUDUSD H4 | Rising into 61.8% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.63472 which is an overlap resistance that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.62928 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.64006 which is an overlap 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.