TitleNZDUSD H4 | Running into 127.2% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.60491 which is a multi-swing-high resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.59977 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.60938 which is a pullback resistance that aligns with the 127.2% Fibonacci extension 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.
