Recently, EUR/NZD has been moving downwards. The price tested the level of 1.5412 in an average volume. Using the market profile analysis, I found today's point of control at the price of 1.5460. Anyway, I still expect lower price on EUR/NZD since the price broke trading range in the background, which is a sign of weakness. Watch for selling opportunities on the pullbacks. Take profit level is set at the price of 1.5350 and 1.5310.
Fibonacci Pivot Points:
Resistance levels
R1: 1.5560
R2: 1.6600
R3: 1.5650
Support levels:
S1: 1.5450
S2: 1.5425
S3: 1.5370
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
