Recently, EUR/NZD has been moving upwards. The price tested the level of 1.6505. I found a strong base (bottoming) near the level of 1.6355. According to the 30M time frame, I found a sign of strength. There are few down bars but with weak closing (in the middle), which is a sign of strength. I found successful testing of supply in a low volume, which is another sign of strength. Watch for buying opportunities on the dips. Upward targets are set at the price of 1.6640 and 1.6680.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6450
R2: 1.6480
R3: 1.6530
Support levels:
S1: 1.6345
S2: 1.6315
S3: 1.6560
Trading recommendation for today: Watch for buying opportunities on the dips.
