TitleNZDUSD H4 | Approaching Fibo resistance confluenceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.59508 which is a pullback resistance that aligns with the 61.8% Fibonacci retracement and the 100.0% Fibonacci projection levels and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.58665 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.60023 which is a multi-swing-high resistance level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
