frequency of data for wavelet analysis

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In the following example:

require(biwavelet)
t <- seq(1/24, 365, 1/24)
A <- 10
fs <- 1/24
y <- A + sin(2*pi*fs*t)

d <- cbind(t, y + rnorm(length(y))) 
wt.t1 <- wt(d)
plot(wt.t1)

If I am looking at the diurnal cycle of a given time series what is the lowest resolution possible to use? This example currently uses data measured at 1 hour intervals thus I have 24 data points in a day. Would this be as significant if I used 2,3, or even 4 hour time steps?

Also is there a method for calculating if the significance of the results varies when decreasing the resolution of the data

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