Recently, EUR/NZD has been moving downwards. As I had expected, the price tested the level of 1.5923 in an high volume. According to the 1H time frame, I found a broken bearish flag, which is a sign that downward pressure may continue. Also, I found successful re-test of the channel and my advice is to watch for selling opportunities. The first take profit level is set at the price of 1.5840 (swing low).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.6070
R2: 1.6100
R3: 1.6150
Support levels:
S1: 1.5965
S2: 1.5930
S3: 1.5880
Trading recommendations for today: Watch for selling opportunities on the pullbacks since I found a broken bearish flag.
