Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5007 in a high volume. Using the market profile, I found yesterday's point of control at 1.5046 on the 30M time frame. The intraday trend is bearish. Watch for potential selling opportunities on pullbacks. I placed Fibonacci expansion to find a potential downward target and I got Fibonacci expansion 161.8% at the price of 1.4930.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5140
R2: 1.5170
R3: 1.5230
Support levels:
S1: 1.5020
S2: 1.4985
S3: 1.4925
Trading recommendations for today: watch for selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com