Overview:
Recently, EUR/NZD has been moving donwards. The price tested the level of 1.7277. In the daily time frame, we can observe a supply bar in an average volume. The trend is neutral. Our Fibonacci expansion 61.8% at the level of 1.7325 held successfully. Anyway, we saw weakness in the 1H time frame (up-thrust bar). Buying still looks risky in the background. Watch only for selling opportunities after retracement. Support is seen around the level of 1.7275.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.7575
R2: 1.7655
R3: 1.7780
Support levels:
S1: 1.7325
S2: 1.7250
S3: 1.7120
Trading recommendations: Watch only for selling opportunities after retracement.
