Overview:
In our last analysis, EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.4519 in a high volume. The price found resistance at the level of 1.4500. The short-term trend is bullish. According to the price action on 4H time frame, we can observe a supply in a weak volume. My advice is to watch for potential buying opportunities on the dips. If the price breaks the level of 1.4500 in a high volume, we will have the resistance level of 1.4580.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4434
R2: 1.4469
R3: 1.4526
Support levels:
S1: 1.4320
S2: 1.4285
S3: 1.4228
Trading recommendations: Be careful when selling and watch for potential buying opportunities on the dips
The material has been provided by InstaForex Company - www.instaforex.com
