Recently, the EUR/NZD pair has been trading sideways at the price of 1.4580. According to the 4H time frame, I found rejection from supply trendline and rejection from resistance cluster (support became resistance). Based on 1H time frame, I have found broken flat base, which is a sign that downawrd trend may continue. My advice is to watch for potential selling opportunities. There is bearish divergence according to 1H time frame on the moving average oscillator. Targets are set at the price of 1.4535 and 1.4455.
Fibonacci pivot points:
Resistance levels:
R1: 1.4675
R2: 1.4715
R3: 1.4775
Support levels:
S1: 1.4555
S2: 1.4520
S3: 1.4460
Trading recommendations for today: watch for potential selling opportunities.
