Title

AUDUSD  H4 | Bearish Drop 

Type

Bearish Drop 

Preference:

price has just reacted off the pivot of 0.6749, an overlap resistancet.  A fall from this level could lead the price to drop to 1st support at 0.6640, an overlap support close to the 50% Fibonacci retracement. 

 Alternative Scenario:

If price breaks above the pivot, it could rise to 1st resistance at 0.6819, a pullback resistance