Title

NZDUSD  H4 | Bullish Reversal

Type

Bullish Reversal

Preference:

The price is falling from the pivot level of 0.6040, which acts as a pullback support level close to the 61.8% Fibonacci retracement and 127.20% Fibonacci extension. A bounce from this level might cause the price to rise to the 1st 0.6121, a pullback resistance 

Alternative Scenario:

If the price breaks below the pivot, it may fall to the 1st support level at 0.5957, which acts as a pullback support close to the 161.80% Fibonacci extension