Overview:
Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6350 in an average volume. I am waiting for larger activity and stronger price actions. The short-term trend is still neutral. The major 21-day support at the level of 1.6150 held successfully. In the H4 time frame, I found strong resistance at the level of 1.6350 (currently on the test). Our strong support at the level of 1.6350 became strong resistance since its was broken. I found changes n polarity and my advice is to watch for potential intraday selling opportunities. The profit zone is seen around the level of 1.6180. Anyway, if the price breaks the level of 1.6350 in a high volume and close clearly above that level, we may see further upward movement.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.6345
R2: 1.6380
R3: 1.6435
Support levels:
S1: 1.6235
S2: 1.6200
S3: 1.6145
Trading recommendations : Intraday selling opportunities are preferable. Buying opportunities are preferable only if the price breaks and close above the resistance level of 1.6350.
