Overview:
Recently, EUR/NZD has been trading upwards. As we had expected, the price tested the level of 1.5240 in a high volume. The short-term trend is bullish. Be careful when selling EUR/NZD. Our objective point at the price of 1.5155 (Fibonacci retracement 50%) has been reached. According to the daily time frame, we can observe demand in a high volume. I placed Fibonacci retracement to find next bullish objective point Fibonacci retracement 61.8% at the price of 1.5450.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5160
R2: 1.5250
R3: 1.5390
Support levels:
S1: 1.4875
S2: 1.4780
S3: 1.4645
Trading recommendations: Be careful when selling EUR/NZD and watch for potential buying opportunities after a retracement.
The material has been provided by InstaForex Company - www.instaforex.com