Overview:
In our last analysis, EUR/NZD was trading downwards. The price tested the level of 1.4119 in a high volume. Since the price has broken our Fibonacci retracement 61.8% (1.4285), we saw a downward movement. Our support level at the price of 1.4125 is on the test. Be careful when buying since we are in the short-term bearish trend. If the price breaks the level of 1.4125 in a high volume, we may see possible testing of the level of 1.4030.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4389
R2: 1.4431
R3: 1.4499
Support levels:
S1: 1.4253
S2: 1.4211
S3: 1.4143
Trading recommendations: Be careful when buying EUR/NZD and watch for potential selling opportunities after retracement.
The material has been provided by InstaForex Company - www.instaforex.com
