NZDUSD H4 | Potential bearish breakout

TitleNZDUSD H4 | Potential bearish breakoutTypeBearish BreakoutPreference:Price could fall towards the pivot point of 0.59179 which is an overlap support and could potentially break below this level; we could see momentum carry price down to its 1st support at 0.58679 which is a pullback support that aligns with the 61.8% Fibonacci retracement level.Alternative scenario:If price reverses from the pivot point, it could hit the 1st resistance at 0.59984 which is a 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.