Overview:
Recently, EUR/NZD has been trading sideways around the price of 1.3960. Our Fibonacci expansion 100% at the level of 1.4025 is broken. The short-term trend is bearish. Be careful when buying and watch for potential selling opportunities after corrections. We may see possible testing of 1.3715 (Fibonacci expansion 161.8%). According to the H4 time frame, we can observe a supply in an average volume. Selling positions are preferable. Resistance levels are at 1.3945 - 1.3980 (recent swing lows). According to the daily time frame, we can observe supply in an average volume, but the price action is very weak.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.4045
R2: 1.4090
R3: 1.4150
Support levels:
S1: 1.3912
S2: 1.3870
S3: 1.3805
Trading recommendations: Be careful when buying EUR/NZD and watch for potential selling opportunities after retracement.
