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

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Price is testing our Pivot point at 0.75449, in line with 23.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.74623, in line with 241.4% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low. It's worth noting that MACD is below the 0 line, in line with our bearish analysis.

Pivot: 0.75449
Why we like it:
23.6% fibonacci retracement, 100% fibonacci extension and horizontal graphical overlap

1st Support: 0.74623
Why we like it:
241.4% fibonacci retracement, 127% fibonacci extension and horizontal graphical swing low

1st Resistance: 0.76245
Why we like it:
61.8%, 78.6% fibonacci extension and horizontal graphical overlap.
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