Overview:
Recently, EUR/NZD has been trading downwards. The price tested the level of 1.3944. Our Fibonacci expansion 100% at the level of 1.4025 is broken.The short-term trend is bearish. Be careful when buying and watch for potential selling opportunities after corrections. We may see possible testing of the level at 1.3715 (Fibonacci expansion 161.8%). According to the H4 time frame, we can observe a supply in a average volume. Selling positions are preferable.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.4080
R2: 1.4100
R3: 1.4140
Support levels:
S1: 1.4007
S2: 1.3985
S3: 1.3950
Trading recommendations: Be careful when buying EUR/NZD and watch for potential selling opportunities after retracement.
