EUR/NZD analysis for September 25, 2015

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Overview:

Recently, EUR/NZD has been moving downwards. The price tested the level of 1.7513. In the daily time frame, we can observe a supply bar in an average volume. The intraday trend is downward. According to the H1 chart, strong support zone around the price of 1.7620 got broken.Our high volume area at the price of 1.7620 held successfully as resistance after sellers did a breakout, which is a sign for downward market. Be careful when buying at this stage since we may expect more downward movement. We have support at the price of 1.7500-1.7350.

Fibonacci Pivot Points :

Resistance levels:

R1: 1.7850

R2: 1.7930

R3: 1.8048

Support levels:

S1: 1.7610

S2: 1.7535

S3: 1.7415

Trading recommendations: Be careful when buying and watch for potential selling opportunities.

The material has been provided by InstaForex Company - www.instaforex.com