Recently, EUR/NZD has been moving downwards. As I expected, the price tested the level of 1.5567 in a high volume. According to the 30M time frame, I found a broken upward trendline, which is a sign of selling continuation. According to the daily time frame, I found that support became resistance at the level of 1.5840.The trend is downward. Watch for selling opportunities on the pullbacks. The first take profit level is set at the price of 1.5450.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5750
R2: 1.5790
R3: 1.5854
Support levels:
S1: 1.5635
S2: 1.5600
S3: 1.5545
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
