Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.7752. In the daily time frame, we can observe a weak demand bar in a volume below the average. The intraday trend is neutral. Anyway, I am more bearish on EUR/NZD because the strong resistance at the price of 1.8000 held several times. Our strong trading range between the levels of 1.8000 (resistance) and 1.7270 (support) is still active. In the H1 time frame, we can observe a very neutral price action. I am waiting for a larger activity and stronger price action to confirm further movement.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.7820
R2: 1.7870
R3: 1.7955
Support levels:
S1: 1.7650
S2: 1.7600
S3: 1.7515
Trading recommendations: Neutral market. We can observe a very weak price action and neutral market around the price of 1.7740. Wait for a larger acitivity and stronger price action to confirm further direction.
