Title
NZDUSD H4 | Bullish bounce off overlap support

Type
Bullish Bounce

Preference:

Price is falling towards the pivot point of 0.60047 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 0.6057 which is a swing-high resistance level.

Alternative scenario:

If price breaks below the pivot point, it could hit the 1st support at 0.59628 which is a pullback support that aligns with the 50.0% Fibonacci retracement level.

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