Overview:
Recently, EUR/NZD has been moving upwards. As I expected, the price tested the level of 1.7076 in a high volume. In the daily time frame, I found strong demand, which is a sign that selling looks risky. In the 1-hour time frame, I found the price rejection at the strong support level of 1.6900 where we got support cluster and upward diagonal support. So, be careful when selling EUR/NZD at this stage and watch for potential buying opportunities. The resistance level is seen at 1.7260.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6930
R2: 1.6975
R3: 1.7045
Support levels:
S1: 1.6790
S2: 1.6745
S3: 1.6675
Trading recommendations: EUR/NZD is in the uptrend. Watch for potential buying opportunities on dips.
