AUDUSD Potential bearish continuation | 5th May 2022

On the H4, with price expected to reverse off the ichimoku cloud , we have a bearish bias that price will drop from our 1st resistance at 0.72570 where the 50% Fibonacci retracement is to our 1st support at 0.71704 in line with the horizontal pullback support. Alternatively, price may break 1st resistance structure and head for 2nd resistance where the horizontal pullback resistance is.

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