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Title
NZDUSD H4 | Reacting off resistance level?
Type
Bearish Drop
Preference:
Price is currently at our pivot point of 0.6115, which serves as an overlap resistance level. A reversal from this point could lead the price to drop to the 1st support at 0.6066, an overlap support level that aligns with the 161.8% Fibo extension level
Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 0.6167, which serves as an overlap resistance level.
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