NZDUSD H4 |  Bearish reversal off 50% Fibo resistance

TitleNZDUSD H4 |  Bearish reversal off 50% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.5947 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.59043 which is a pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.59837 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.