AUDUSD H4 Potential for Bearish Continuation | 22nd April 2022

On the H4 timeframe, price is trying to break through the ascending trendline. Price is near the key resistance level . We see the potential of a bearish dip from sell entry level of 0.73558 in line with 61.8% fibonacci retracement towards the take profit level of 0.72483 which is in line with 78.6% fibonacci retracement and 61.8% fibonacci projection . Otherwise, price might break the key resistance level and head towards the stop loss level of 0.74539 in line with 38.2% fibonacci retracement .

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