Recently, EUR/NZD has been moving upwards. The price tested the level of 1.5984 in the high volume. According to the 30M time frame, I found potential changing in the trend dynamic from bullish to bearish. I found a broken upward trend line and few reversal bars in a high volume from the top. I have placed Fibonacci retracement from most recent downward leg and I got Fibonacci retracement 78.6% at the price of 1.5810. Watch for selling opportunities on the pullbacks. Take profit level is set at the price of 1.5610 (point of control from yesterday)
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5695
R2: 1.5725
R3: 1.5775
Support levels:
S1: 1.5595
S2: 1.5565
S3: 1.5515
Trading recommendations for today: Be careful when buying and watch for selling opportunities.
