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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/NZD analysis for April 04, 2016

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Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6645 in a high volume. EUR/NZD is trading in a defined upward trend channel. Watch for buying opportunities on dips inside the channel. First, the take profit level is set at the price of 1.6645. I found absorption of selling climax in the background, which is a sign that selling EUR/NZD looks very risky.

Fibonacci Pivot Points:

Resistance levels:

R1: 1.6610

R2: 1.6665

R3: 1.6770

Support levels:

S1: 1.6420

S2: 1.6360

S3: 1.6265

Trading recommendation for today: Watch for buying opportunities on the dips.

The material has been provided by InstaForex Company - www.instaforex.com