Recently, EUR/NZD has been moving sideways at the price of 1.5645. On the 30M time frame, I found that price went back into a trading range and broke the recent swing highs (support levels), which is a sign that EUR/NZD may go lower. The price is trading below the 50SMA, which indicates that sellers are in control. My advice is to watch for selling opportunties. Take profit levels are set at the price of 1.5590 and 1.5535.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5645
R2: 1.5670
R3: 1.5710
Support levels:
S1: 1.5560
S2: 1.5535
S3: 1.5495
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
