Overview:
Recently, EUR/NZD has been moving sideways around the level of 1.6450. In the daily time frame, we can observe a neutral bar. Our Fibonacci major retracement 50% held successfully and the price was rejected. An intraday trend is upward (the price is above Ichimoku cloud in the H1 and M30 charts), but the short- and mid-term trend is still downward (the price below Ichimoku cloud in a daily and H4 time frame). So, I would wait for a clear trend in both time frame. According to the H1 time frame, we can observe a volume spike (selling climax) after yesterday's news. We may see potential absorption, but only if the price breaks the level of 1.6510.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6460
R2: 1.6520
R3: 1.6615
Support levels:
S1: 1.6265
S2: 1.6205
S3: 1.6105
Trading recommendations: Intraday buying opportunities are preferable, but the trend is neutral.
