AUDUSD H4 I Bearish Reversal
Title
AUDUSD H4 I Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving up towards the pivot level of 0.6779, which acts as a pullback resistance. A reversal at this level could cause the price to drop to the 1st support at 0.6715, a multi-swing low support level.
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1st resistance level at 0.682, a pullback resistance level.
Additionally. When the price remains below the Ichimoku cloud, it's typically seen as a strong bearish signal, indicating downward momentum