Recently, EUR/NZD has been moving downwards. As I expected, the pair tested the level of 1.6459 in a high volume. My downward target at the price of 1.6560 has been reached. The supply is still strong and the volume is high. According to the 1H time frame, I placed Fibonacci expansion to find potential downward targets and got Fibonacci expansion 61.8% at the price of 1.6435 and Fibonacci expansion 100% at the price of 1.6270.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6660
R2: 1.6705
R3: 1.6775
Support levels:
S1: 1.6520
S2: 1.6475
S3: 1.6405
Trading recommendation for today: Be careful when buying and watch for selling opportunities.
