Overview:
In our last analysis EUR/NZD was trading downwards. As we expected, the price has tested the level of 1.4352 in a high volume. The mid-term trends are bearish and my advice is to watch for potential selling opportunities after corrections. I found big weakness around the price of 1.4630 (buying climax). My advice is to be careful when buying and to watch for potential selling opportunities after a retracement. Major support is at the price of 1.4360.
Daily Fibonacci pivot levels:
Resistance levels:
R1: 1.4595
R2: 1.4654
R3: 1.4748
Support levels:
S1: 1.4406
S2: 1.4347
S3: 1.4252
Trading recommendations: Be careful when buying at this stage and watch for potential selling opportunities after a retracement (after bullish correction).
The material has been provided by InstaForex Company - www.instaforex.com
