Recently, EUR/NZD has been moving sideways at the price of 1.5545. On the 30M time frame, I found potential topping formation and successful rejection from the point of control levels in the background, using the market profile analysis, which is sign that buying looks riksy. The level of 1.5600 was held successfully, and the sellers came in from that point. My advice is to watch for selling opportunities. Anyway, I would like to see breakout of support at the price of 1.5525 to confirm downward movement. Downward target is set at the price of 1.5350.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5640
R2: 1.5665
R3: 1.5710
Support levels:
S1: 1.5550
S2: 1.5520
S3: 1.5475
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
