Overview:
Recently, EUR/NZD has been moving sideways around the level of 1.6650. Low volatility is observed on the market. In the daily time frame, we can observe a weak demand bar in a volume just above the average. The price rejected from our major resistance level (1.6805). According to the H4 time frame, we can observe price action in a volume below the average. The short-term trend has changed from bullish to neutral. Be careful when selling EUR/NZD at this stage. I found a strong trading range between the levels of 1.6805 and 1.6333.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6785
R2: 1.6830
R3: 1.6900
Support levels:
S1: 1.6640
S2: 1.6600
S3: 1.6525
Trading recommendations: Sideywas market. Wait for a breakout of the trading range to confirm further direction.
