Recently, the EUR/NZD pair has been trading downwards. As I expected, the price tested the level of 1.4677. According to the 1H time frame, I found strong support at the price of 1.4675 (previous demand level). There is also successful test of lower diagonal of downward channel. My advice is to watch for potential buying opportunities. Targets are set at the price of 1.4765 and 1.4805. Anyway, if the price breaks the level of 1.4675, EUR/NZD may test the level of 1.4615.
Resistance levels:
R1: 1.4790
R2: 1.4805
R3: 1.4830
Support levels:
S1: 1.4750
S2: 1.4730
S3: 1.4710
Trading recommendations for today: watch for potential buying opportunities.
