05/06 daily pivots:
eur............1.5535 - 1.5550
gbp...........1.9750
nzd...........0.7879
aud...........0.9480
cad...........1.0080
jpy............105.15
chf............1.0460
In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.