Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5432 in a high volume. According to the 1H time frame, I found a broken flat base. Strong upward momentum confirmed the breakout of the base, which is a sign that we may see a higher price. I have placed the Fibonacci expansion to find potential upward targets. I found Fibonacci expansion 61.8% at the price of 1.5455, Fibonacci expansion 100% at the price of 1.5540, and Fibonacci expansion 161.8% at the price of 1.5675.
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5280
R2: 1.5305
R3: 1.5360
Support levels:
S1: 1.5160
S2: 1.5125
S3: 1.45070
Trading recommendations for today: Be careful when selling and watch for buying opportunities.
