Overview:
In our last analysis, EUR/NZD was trading downwards. The price has tested the level of 1.4382 in a high volume. The price found resistance around the level of 1.4440 (our Fibonacci retracement 61.8%). The short-term trend is neutral. So, be careful when trading EUR/NZD. First major support is seen around the level of 1.4320 (Fibonacci expansion 61.8%) and if the price breaks the level of 1.4440, we may see a potential test of the levels of 1.4490-1.4560.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4431
R2: 1.4472
R3: 1.4538
Support levels:
S1: 1.4300
S2: 1.4260
S3: 1.4192
Trading recommendations: We are in neutral trend. So we need to see a clear direction in the next period to search for better opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
