If price breaks below the pivot, then price could potentially fall to the 1st support at 0.5986, which is a major swing low support.
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Price is approaching our pivot point at 0.6064, which is at a multi-swing low support level. If price bounces off the pivot point, we can expect to see price rise to the 1st resistance at 0.6131, which is at a 50% fibo retracement and 78.6% fibo projection.
NZDUD H4 | Bullish bounce off pivot?