Recently, EUR/NZD has been moving downwards. Like I expected, the price tested the level of 1.5335 in a high volume. EUR/NZD reached my second target at 1.5380. Anyway, on the M30 time frame, I found a supply trend line and lower swing highs, which is a sign that sellers are in control in the market. Be careful when buying EUR/NZD at this stage and watch for selling opportunities. The next downward target is set at the price of 1.5245.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5528
R2: 1.5555
R3: 1.5590
Support levels:
S1: 1.5450
S2: 1.5425
S3: 1.5380
Trading recommendations for today: Buying EUR/NZD at this stage looks risky. Watch for selling opportunities.
