Overview:
Recently, EUR/NZD has been trading upwards. As we expected, the price tested the level of 1.5312 in a high volume. The short-term trend is bullish. Our target at 1.5155 (Fibonacci retracement 50%) has been reached and we can observe a completed bearish corrective phase in the background. According to the daily time frame, we can observe demand in an average volume. Our target is at 1.5450. Watch for potential buying opportunities on the dips (after bearish correction). First support level is around 1.5230-1.5210.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5220
R2: 1.5270
R3: 1.5345
Support levels:
S1: 1.5060
S2: 1.5010
S3: 1.4935
Trading recommendations: Be careful when selling EUR/NZD and watch for potential buying opportunities after a retracement.
