Recently, EUR/NZD has been moving downward. The price tested the level of 1.4824 in a high volume. According to the 4H time frame, I found rejection from resistance at the price of 1.4875. EUR/NZD is in a short-term downward trend. My advice is to watch for selling opportunities. I have placed Fibonacci expansion and I found a downward target at the price of 1.4730.
Fibonacci Pivot Points:
Resistance levels
R1: 1.4915
R2: 1.4940
R3: 1.4980
Support levels:
S1: 1.4830
S2: 1.4800
S3: 1.4760
Trading recommendations for today: Watch for potential selling opportunities.
