Overview:
Since our last analysis, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5852. Our Fibonacci expansion 100% at the price of 1.5760 held successful, which caused price to start bullish continuation. We may expect testing the level of 1.5930 (swing high like resistance). Anyway, if the price breaks the level of 1.5900 (swing high like resistance), we may see potential testing the level of 1.6000 (Fibonacci expansion 100%). Be careful when selling and watch for potential buying opportunities.
Daily Fibonacci pivot levels :
Resistance levels:
R1: 1.5873
R2: 1.5909
R3: 1.5967
Support levels:
S1: 1.5758
S2: 1.5722
S3: 1.5665
Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.
The material has been provided by InstaForex Company - www.instaforex.com
