Overview:
In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4398 in a high volume. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found resitance around 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 a retracement.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4520
R2: 1.4570
R3: 1.4653
Support levels:
S1: 1.4354
S2: 1.4304
S3: 1.4221
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
