Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5769 in a low volume. There is the strong supply in the background and I found normal reaction (bullish correction). Be careful when buying EUR/NZD at this stage, since I expect a lower price and potential re-test of the low at 1.5450. The trend is downward. I found an upward trend line, watch for a potential breakout of upward trendline to confirm further downward movement.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5770
R2: 1.5830
R3: 1.5920
Support levels:
S1: 1.5580
S2: 1.5525
S3: 1.5430
Trading recommendations for today: Watch for selling opportunities.
