Overview:
Since our last analysis, EUR/NZD has been trading downwards. The price tested the level of 1.5781. I have placed Fibonacci retracement to find potential support levels and I got Fibonacci retracement 38.2% at the price of 1.5790 and Fibonacci retracement 61.8% at the price of 1.5700. I have also placed Fibonacci expansion levels and I got Fibonacci expansion 100% at the price of 1.5760. Anyway, If the price breaks the level of 1.5900 (swing high like resistance), we may see potential testing the level of 1.6000 (Fibonacci expansion 100%). Be careful when selling and watch for potential buying opportunities.
Daily Fibonacci pivot levels :
Resistance levels:
R1: 1.5884
R2: 1.5900
R3: 1.5926
Support levels:
S1: 1.5832
S2: 1.5816
S3: 1.5790
Trading recommendations: Be careful when selling the EUR/NZD pair since we may see further upward movement.
