Overview:
Since our previous analysis, the EUR/NZD pair has been trading upwards, as we expected, the price tested the level of 1.6504 on high volume. We can observe strong demand on the market on the high volume. The price also broke our FR 38.2% at the price of 1.6450 and now we may expect the testing of the FR 61.8% at the price of 1.6575. EUR/NZD is in short- and mid-term bullish trend, so watch for buying opportunities on the dips and try to catch the bullish continuation phase.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.6403
R2: 1.6418
R3: 1.6441
Support levels:
S1: 1.6356
S2 : 1.6341
S3: 1.6317
Trading recommendation: Be careful with selling the EUR/NZD pair,watch for buying opportunities and try to catch the bullish continuation phase.
