Overview:
Since our last analysis, the EUR/NZD pair has been trading upward movement, just like we expected. The price tested level of 1.6714 on high volume. Since our FR 38.2 % held, the level of 1.6480 is possible end of bearish corrective phase. I've placed Fibonacci expansion levels to find potential upper station and i got FE 61.8 % at 1.7000 like first possible station. According to the daily chart, we have got a demand bar on volume above the average. Since we are in the uptrend, according to the daily chart, my advice is to watch for buying opportunities.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6698
R2: 1.6743
R3: 1.6817
Support levels:
S1: 1.6550
S2: 1.6505
S3: 1.6431
Trading recommendation: Be careful with selling EUR/NZD and watch for buying opportunities.
