Overview:
Recently, EUR/NZD has been moving upwards. As we expected, the price tested the level of 1.8686. The price has spiked 1,000 pips since our last analysis. In the daily time frame, we can observe that sellers started to sell actively around the price of 1.8685. Now, this is a strong sign of weakness. Consider only selling opportunities after retracement. Potential profit targets are 1.7330, 1.6930, and the price of 1.6260.
Fibonacci Pivot Points :
Resistance levels:
R1: 1.8425
R2: 1.8790
R3: 1.9380
Support levels:
S1: 1.7245
S2: 1.6875
S3: 1.6285
Trading recommendations: Watch for buying opportunities on the dips. EUR/NZD is in a strong uptrend.
The material has been provided by InstaForex Company - www.instaforex.com