Overview:
In our last analysis EUR/NZD was trading upwards. The price has tested the level of 1.4509 in a high volume. We can observe testing of our Fibonacci retracement 38.2% at the price of 1.4490. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found resitance about the price of 1.4560 (swing low like resistance). My advice is to be careful when buying and to watch for potential selling opportunities after retracement.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4353
R2: 1.4376
R3: 1.4413
Support levels:
S1: 1.4278
S2: 1.4256
S3: 1.4219
Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).
The material has been provided by InstaForex Company - www.instaforex.com
