Overview:
Since our previous analysis, the EUR/NZD pair has been trading downwards, as we expected, the price tested the level of 1.5502 on volume above the average according to the 4H chart. Since our Fibonacci expansion 100% at the price of 1.5665 has got broken, we may see possible testing the level of 1.5335. According to previous price action, we have got resistance level around the price of 1.5745 (swing low like resistance). Buying looks risky so watch for potential selling opportunities after retracement.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.5674
R2: 1.5701
R3: 1.5744
Support levels:
S1: 1.5588
S2: 1.5561
S3: 1.5518
Trading recommendation: Be careful with buying the EUR/NZD pair and watch for selling opportunities after retracement.
