Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7058 in a low volume. In the daily time frame, we can observe strong demand. EUR/NZD has changed trend from bearish to bullish. We also broke a strong resistance level at the price of 1.7090. According to the M5 and M15 time frames, we have a successful tests of supply and we may expect further upward continuation. Be careful when selling and watch for potential buying opportunities on the dips. The most recent resistance level is around the price of 1.7642.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.7056
R2: 1.7100
R3: 1.7170
Support levels:
S1: 1.6910
S2: 1.6855
S3: 1.6795
Trading recommendations: Watch for buying opportunities on the dips. EUR/NZD is in a strong uptrend.
