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

Price is approaching our Pivot point at 0.77006, in line with 78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap. Where we could potentially see a drop from our pivot towards our 1st support level at 0.76496, in line with -61.8% fibonacci retracement, 88.6% 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: 0.77006
Why we like it:
78.6%, 61.8% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical overlap

1st Support: 0.76496
Why we like it:
-61.8% fibonacci retracement, 88.6% fibonacci extension and horizontal graphical swing low

1st Resistance: 0.77352
Why we like it:
78.6% fibonacci retracement, 161.8% fibonacci extension and horizontal graphical overlap.
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