Overview:
Since our previous analysis, the EUR/NZD pair has been trading upwards, the price tested the level of 1.5631 on ultra high volume (buying climax) 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, I have placed Fibonacci retracement levels to find potential resisntace levels and I have got Fibonacci retracement 61.8% at the price of 1.5615 (currently on test). Right now price is in bullish corrective phase so watch for selling opportunities after retracement.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1.5565
R2: 1.5587
R3: 1.5621
Support levels:
S1: 1.5497
S2: 1.5475
S3: 1.5441
Trading recommendation: Be careful with buying the EUR/NZD pair and watch for selling opportunities after retracement.
