#AUDUSD, H4 is reversing from our Pivot. Potential for a drop.

Price is reversing from our Pivot point at 0.77472, in line with 61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76910, in line with 61.8% fibonacci retracement and 61.8% fibonacci extension. It's worth noting that price is under the descending trendline, in line with our bearish analysis.

Pivot: 0.77472
Why we like it:
61.8% fibonacci retracement, 78.6% fibonacci extension and horizontal graphical overlap

1st Support: 0.76910
Why we like it:
61.8% fibonacci retracement and 61.8% fibonacci extension

1st Resistance: 0.77715
Why we like it:
127%, 161.8% fibonacci extension and horizontal graphical swing high
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