Overview:
Recently, EUR/NZD has been trading upwards. The price tested the level of 1.5400 in a high volume. The short-term trend is bullish. According to the daily time frame, demand is in a volume just above average. It looks like that major resistance around the level of 1.5310 (Fibonacci retracement 50% and strong cluster) got broken. We may see possible testing at the level of 1.5450. Selling looks risky since we are in the bullish trend. I found support level around 1.5310 (resistance became support). According to the 30min timeframe, we got selling climatic actions (hidden buying).
Fibonacci Pivot Points:
Resistance levels:
R1: 1.5340
R2: 1.5370
R3: 1.5425
Support levels:
S1: 1.5235
S2: 1.5200
S3: 1.5150
Trading recommendations: Be careful when selling EUR/NZD at this stage since we are in bullish trend.
