Overview:
Our last analysis, EUR/NZD has been trading downwards. As we expected, the price tested the level of 1.5980 in an very high volume. I have placed Fibonacci retracement from the most recent swings and I got Fibonacci retracement 61.8% at the price of 1.6000 (currently on the test). If the price breaks the level of 1.6000 in an high volume, we may see potetntial testing the level of 1.5900 (swing high like support). Be careful when buying and watch for potential selling opportunities after retracement.
Daily Fibonacci pivot levels :
Resistance levels:
R1: 1.6242
R2: 1.6283
R3: 1.6348
Support levels:
S1: 1.6112
S2: 1.6071
S3: 1.6006
Trading recommendations: Be careful when buying the EUR/NZD pair since we can observe bearish corrective phase
