Overview:
In our last analysis EUR/NZD was trading upwards. As we expected, the price has tested the level of 1.5204 in an ultra high volume (buying climax). Our resistance level at the price of 1.5200 got tested. If the price breaks the level of 1.5200 in a high volume, we may see a possible testing of the level of 1.5350 (major Fibonacci retracement 38.2%). My advice is to watch for potential buying opportunities on the lows (buy on the dips).
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.5142
R2: 1.5167
R3: 1.5207
Support levels:
S1: 1.5062
S2: 1.5037
S3: 1.4997
Trading recommendations: Be careful when selling at this stage and watch for potential buying opportunities after retracement (buy on the dips).
