NZDUSD H4 | Approaching 38.2% Fibo resistance

TitleNZDUSD H4 | Approaching 38.2% Fibo resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.59918 which is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.59322 which is a swing-low support.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.60375 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement 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.